385 Bourke Street is located in the heart of Melbourne's CBD, opposite the GPO. Perched above 2 floors of popular retail and food court dining, this is an A-Grade building, in an A-Grade location.

The elevated corner position above Melbourne's well-known Galleria Retail Centre takes in 41 floors, providing businesses with a clear view of the city and its surrounds. On a clear day, 360-degree views are possible.

Floor areas are typically up to 1,280 square metres with unobstructed working areas and no columns. Concierge, 24/7 security, a 200 seat theatrette and end-of-trip facilities are also provided.

With a vibrant retail and dining area within the Galleria Retail Centre below, the amenity of the location is outstanding. Moments away are Hardware Lane's café dining options, GPO's fashion and food, along with Bourke Street Mall & Emporium shopping.

The position also places tenants close to two stations, as well as trams and buses. Vehicle access is also catered for with easy access to Kings Way and City Link.

- 4-star NABERS Energy rating

- Central Location opposite GPO

- Above 45 retailers (Galleria)

  • NABERS Energy
    4.5 Star Energy Rating
  • NABERS Water
    3 Star Water Rating

Property Details

Building type
A Grade - office
Title
Freehold
Site area (hectares)
0.6
Lettable area ('000sqm)
60.2
Lettable area adjusted for ownership ('000sqm)
30.1
Typical floor area (sqm)
1,300
Number of buildings
1
Car parking spaces
240
NABERS Energy rating (with Green Power)
4.5
NABERS Energy rating (without Green Power)
4.0
NABERS Water rating
3.0
Year built
1983
Major tenant
Energy Australia
Owner
DXS
Ownership (%)
50
Co-owner
Dexus Office Partner

Property Statistics

Metro area
Melbourne CBD
Zoning
Capital City Zone
Acquisition date
April 2014
Book value at ownership ($m)
282.0
Independent valuation date
June 2017
Independent valuation at ownership ($m)
282.0
Market cap rate (%)
5.65
Initial yield (%)
5.31
Leased by area (%)
98
Weighted lease term by income (years)
5.5