34 – 60 Little Collins Street has sold to Merivale Group


February 26, 2025

Following a competitive market process, City of Melbourne has sold 34 – 60 Little Collins Street (the land) to Merivale Group.

An independent market valuation was undertaken for the site prior to it being put on the market, taking the current lease and opportunities for future development into consideration. The final price was above this valuation and sold in accordance with the Local Government Act 2020.

Funds from the sale will be reinvested back into our capital works program to deliver important community infrastructure.

The land is still subject to a 75-year lease with Dexus which operates an eight-storey car park, basement and retail premises on the site. The lease agreement is due to expire on 30 June 2037.

The sale of the land does not terminate the existing lease – meaning that unless a mutual agreement is reached between Merivale and Dexus to terminate the lease, the car park must continue to operate until 2037.