The Trilogy at 388 William Street, Melbourne, is being offered for sale through Cushman & Wakefield’s Oliver Hay, Daniel Wolman and Leon Ma, with Pat Burke of MP Burke acting as transaction advisor.
The strategic site is where ‘city, market and gardens converge’ and comprises a substantial 3,915 sqm* corner landholding at William and Franklin streets, with more than 128 metres* of combined frontage and uninterrupted views across the 7.2-hectare* Flagstaff Gardens.
The landmark CBD site already has an endorsed planning permit for a 36-storey mixed-use development with 63,700sqm of Gross Building Area (GBA) potential, providing a substantially de-risked pathway for an incoming purchaser.
Oliver Hay, Cushman & Wakefield’s International Director and Head of Investment Sales Australia, said the site's scale, planning certainty and location were expected to attract major domestic and offshore groups.
“We expect interest from some of Australia’s largest developers as well as international capital, with the site offering the scale and flexibility to pursue residential, build-to-rent, student accommodation, hotel or commercial outcomes.
“Permit-approved development sites of this magnitude are becoming increasingly difficult to secure in the CBD. We expect buyers looking to build their Melbourne pipeline will recognise the strategic value of securing a landmark site where much of the planning risk has already been removed.”
The property sits within the Queen Victoria Market development precinct and is positioned on the doorstep of the $1 billion QVM renewal, one of Melbourne’s most significant urban regeneration projects.
Leon Ma, Cushman & Wakefield’s International Director and Head of Asia Capital Services, said the site's physical attributes and location made it difficult to replicate.
“This is a genuine landmark CBD development opportunity, combining a substantial 3,915 sqm corner landholding with more than 128 metres of frontage, a permit-approved scheme and an extraordinary position directly opposite Flagstaff Gardens.
“Few Melbourne CBD sites can offer permanently protected park views on one side and the transformation of the Queen Victoria Market precinct on the other. That combination of scale, planning certainty and surrounding amenity creates the potential for a truly significant development.”
The property is also moments from Flagstaff Station and the William Street tram corridor, providing direct access across the CBD and to Melbourne’s universities and Parkville Biomedical Precinct.
The Trilogy, 388 William Street, Melbourne is being offered for sale via International Expressions of Interest closing 12pm on Thursday, 1 October.
