FLCT to sell Melbourne property for $161.4m

The sale signifies FLCT’s exit from the Melbourne office CBD market.

Frasers Logistics & Commercial Trust (FLCT) will divest a commercial property at 357 Collins Street in Melbourne, Australia, for $161.4m (A$192.1m).

This represents a 0.6% premium to the property’s independent valuation of $160.4m (A$191m), as of 1 June 2025. 

The property is 25-storey freehold office building located in Melbourne's Central Business District. It will be purchased by an unrelated third party, and the sale will be handled by FLCT’s sub-trust, Collins Street Landholding Trust.

FLCT said the sale of the property marks the firm’s strategic exit from “the challenging Melbourne office CBD market, which continues to suffer from remote work culture, leading to an elevated vacancy level of 18.6% in Melbourne.” 

Post-divestment, FLCT will further enhance its portfolio focus on logistics and industrial properties.

The divestment is expected to be completed by 30 September 2025.