Being advertised as a ‘Melbourne Defining Opportunity’, 87-127 Queens Bridge Street is being marketed by Josh Rutman and Leigh Melbourne of JLL Melbourne and Trent Hobart and Rob Joyes of Colliers Melbourne. The vendor is Aohua Hua Hui Realty Pty Ltd, a company solely owned by Maozhi He of Guang Dong, China.
The consolidated site will be an enormous 6,202 sqm with frontages of 199 metres. In August 2018 Victoria Planning Minister approved a $420 million proposal for a development consisting of a 47-storey twin tower hotel and apartment buildings that would create 733 apartments and a 188-room hotel, along with ground level retail and 5,000 sqm of podium level offices and an NSA of 73,469 sqm.
The properties currently have an existing net lettable area of over 9,000 sqm and short-term income from various buildings. Included is 99 Queensbridge Street, a five-storey building with three ground-floor showrooms and office floors of about 1,040 sqm.
The whole site was purchased by Aohua Hua Hui Realty in four transactions between January 2014 and April 2016 for a total of $103 million.