Being offered for sale for the first time in a quarter of a century is 266-270 Queen Street, Melbourne. Known as the Bank of China Building, it is owned by the Bank of China, which was initially established in 1912. In 1994 the Bank was transformed into a wholly state-owned commercial bank and was incorporated in 2004. It lists on both the Hong Kong Stock Exchange and the Shanghai Stock Exchange.
The property is a three-storey brick building, two storeys when constructed in 1932 as the Australian headquarters of MGM, but extensively renovated and extended in 1981. The building area is about 767 sqm and there is space for eight vehicles to park to the rear; it is solely occupied by the Bank of China.
The building last traded in 1994 when Colliers Jardine arranged the sale to the Bank of China for $1.6 million.