The sale of 333 Queen Street to well-known investor ‘Jimmy’ Lai Huat Goh is the biggest office deal in Melbourne this year.
Live music and theatre promoter Michael Coppel has secured the biggest office sale in the Melbourne CBD so far this year after offloading a partially vacant B-grade building for about $35 million on a 4.6 per cent yield.
Title searches reveal a caveat was placed over the property by Sukha Land, directed by well-known CBD property investor “Jimmy” Lai Huat Goh and Rong Liu.In mid-2013 Malaysian-born Mr Goh sold a portfolio of three CBD sites including a large multistorey carpark at 250 La Trobe Street to , the next biggest office sale this year in the Melbourne CBD was a 12-level property at 99 Queen Street, which fetched $30 million in April.$2.1 billion deal to buy the two-tower Southern Cross complex with the backing of Singapore’s sovereign wealth fund GIC.
Mr Peden said his team was in discussions with a number of long-term holders of office assets who were assessing the best way to maintain the value of their properties given the challenges of higher vacancy rates and increasing holding costs such as land tax.
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