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.