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JJLL is pleased to exclusively present 123 Swanston Street, Melbourne for sale by Expressions of Interest, a rare chance to acquire an iconic piece of Melbourne’s CBD history, formerly the Aeolian Hall.

Positioned on Australia’s busiest street and one of the most tightly held, this eight-level building sits at the epicentre of Melbourne’s retail core, directly adjacent to the Melbourne Town Hall and just steps away from the Collins Street intersection.

Fully leased across an established tenant mix, the asset features secure income with built-in 3.5%–4% annual rent increases and clear rental reversion potential for key tenancies. Additionally, rare 12-month demolition clauses across the majority of tenancies offer the ultimate flexibility for future repositioning or occupation opportunities (STCA).

+ Generational Freehold Scarcity: A landmark retail building with extreme scarcity, only 3 freeholds changing hands on this strip since 2018.

+ Australia’s Busiest Retail Strip: Positioned in a true 24/7 pedestrian precinct averaging 37,000+ daily pedestrians, rising past 45,000 daily during December.**

+ Strong & Growing Income Stream: Fully leased to established tenants delivering $1,107,124 pa* + GST with fixed 3.5%-4% annual rental increases and clear rental reversion potential for key tenancies.

+ Strategic Repositioning & Value-Add Flexibility: Rare-12-month demolition clauses are embedded within majority of tenancies, enabling near-immediate repositioning or occupation of the building (STCA).

Melbourne’s Lowest Vacancy: Swanston Street boasts an exceptionally resilient and tight retail vacancy rate of just 1.9%, compared to the wider Melbourne CBD average of 4.6%.***

+ Unmatched Infrastructure Windfall: Set to benefit directly from the completion of the new Metro Tunnel Stations at Town Hall and State Library funnelling even more pedestrians onto Swanston Street.

+ Melbourne CBD Retail Core: Moments from Bourke Street Mall, Melbourne Central and Emporium.

123 Swanston Street, Melbourne is offered For Sale by International Expressions of Interest closing Thursday the 22^nd October at 3:00pm (AEDT).

For further information, please contact the exclusive selling agents below:

JLL

Romanor Falconer | +61 400 757 171

MingXuan Li 李名轩 | +61 498 688 998

Stuart Taylor | +61 428 000 000

*Approximate

**City of Melbourne

***Walk the CBD 2026

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