An institutional investor has acquired a 100% interest in the recently redeveloped St. Collins Lane Shopping Centre. The sale was exclusively negotiated by JLL’s Simon Rooney on behalf of LaSalle Asia Opportunity Fund III.

Located in the heart of Melbourne along the renowned Collins Street, St. Collins Lane offers over 9,000m2 of GLA across four floors comprising over 60 stores. When offered to the market for sale, prior to St. Collins Lane being open, it had strong pre-commitment from a number of leading international brands including Coach, TAG Heuer, Reiss, Maje, Sandro Paris, Zadig & Voltaire and The Kooples, along with a host of luxury Australian brands, as well as popular restaurants including Burger Project and Los Vida – both Melbourne firsts.

JLL’s Head of Retail Investments – Australasia, Simon Rooney said, “St. Collins Lane adds to a series of retail developments in the Melbourne CBD in the last few years which together have created a powerful concentration of retail amenity, essentially running from Flinders Street Station through to La Trobe Street. The revitalisation of the CBD retail core has driven further strengthening of investor demand for these high quality assets and this was reflected in the competitive sale process for St. Collins Lane.

2016 already reflects a record year for CBD retail transactions with $1.6 billion recorded to date, eclipsing the $1.2 billion in 2015.”