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446 Collins Street, Melbourne

446 Collins Street was acquired by Vantage on behalf of a private offshore investor. Throughout our ownership period, capital works included a full upgrade of the HVAC, a building management system, installation of end-of-trip facilities, refurbishment of the foyer and upgrade to various on-floor amenities. Since acquisition, we negotiated 18 new leases resulting in an 84% average rent increase on pre-acquisition rents. The property was sold off-market at a 17% premium to most recent valuation.

Purchase price:
Sale price in 2021:
Net gain for investor:
Total return:
27% per annum
Hold period:
6 years
Premium to valuation: