390 St Kilda Road, a prestige high rise office building purchased by Marks Henderson for $45.56 million in November 2003 providing an initial return of 10% on equity contributed.
The property was designed by Brixton Estate PLC and leased to the Mayne Group and a variety of other quality tenants.
Only 3 km from the Melbourne CBD, 390 St Kilda Road comprises ground and 22 upper levels with a lettable area of some 16,638 sqm with basement parking for 219 cars.
The property is strategically located with excellent views over Port Phillip Bay, Albert Park Lake, the Botanic Gardens and the Melbourne Grammar School campus.
The property was sold for $63.225 million in August 2007 providing an internal rate of return of 20% on equity invested.