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533 Little Lonsdale Street, Melbourne

Acquired in 2013, Vantage immediately commenced a $2.4 million refurbishment. This comprised refurbishing the ground floor, common area lobbies and tenancy areas as well as replacement of the lifts and air-conditioning system. Vantage negotiated an uplift in passing rents of 43 per cent and managed the sale three years after purchase with a 30% increase above the most recent valuation.

Purchase price:
$19.5 million
Sale price in 2016:
$35.25 million
Hold period:
3 years
Net gain for investors:
Total return for investors:
26.4% per annum
Premium to valuation: