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CBD properties flood the market as owners shift into sell mode
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Shifting fortunes are bringing a flood of CBD properties to market with a raft of long-term and short-term investors calling time on their holdings.
In the west end, a pair of investors who held their properties for more than 40 years are selling 423-425 Elizabeth Street.
CostFox’s strata office in Cremorne.
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Originally part of the old Argus Hotel - neighbouring the Argus Building on the corner of Latrobe Street - the shop is expected to fetch a whopping $15 million.
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The home of one of Melbourneâs best-known restaurants, Chris Lucasâ Kisume on Flinders Lane, has been listed for sale by philanthropist Helen Sykes with a price tag of about $20 million.
The Japanese restaurant occupies the lower levels of 175 Flinders Lane, an eight-level free-standing commercial building that Ms Sykes â the wife of former AFL commissioner and Carlton premiership-winning player Mike Fitzpatrick â acquired for $9.8 million in 2015 through her Sunshine Property Holdings.
Flinders Lane is Melbourneâs best known late-night dining and drinking hub, home to some of the cityâs most popular restaurants including Chin Chin (also part of the Lucas Group), Supernormal and Coda.