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AUSTRALIA'S RICHEST BARRISTER BUYS INTO EAST END TOWER - THE AGE

Posted on 07 September 2024

Australia's richest barrister, Allan Myers, KC, has made another city investment, well away from his agricultural interests, joining the ranks of the strata office owners in Melbourne's top end. 

Myers has emerged on the list of owners at 41X, the tower on the corner of Flinders Lane and Exhibition Street developed by the Australian Institute of Architects.

Records show Tovehead, a Myers family company, has bought level six for $4 million. The whole floor office, with no views, was purchased shortly after level 18 was transacted last year for $4.15 million.

CBRE agents Alex Brierley, Nathan Mufale and JJ Heng, who did the deals, declined to comment.

Earlier this year, Myers bought a shop at 205-207 Lygon Street, Carlton for $11.42 million. His agribusiness holdings include a half-share in a 343,700-hectare cattle station aggregation in the Northen Territory and more than 11,000 hectares of grazing land in Dunkeld held through the Dunkeld Pastoral Company.

While Myer’s personal website lists 41X as his new office address, AJ Myers and Dunkeld Pastoral are still on the tenants list at Harley House, up the street at 71 Collins Street.

That office, across the road from top-tier law firms at 80 and 101 Collins Street, is also within spitting distance of the Melbourne Club, from which Myers exited in a state of high dudgeon early this year, amid accusations of racism.

Meanwhile, level 13 of 41 Exhibition Street is on the market for more than $4 million. Records show the co-owners, printing boss Wayne Sidwell and lawyer Charles Anzarut, bought the 280 sq m property in 2013 for $2.095 million.

Vinci Carbone agents Frank Vinci and Joseph Carbone are handling enquiries.

In the CBD’s west end, near Queen Victoria Market, the former Communications Workers Union headquarters on level nine of 365 Queen Street has sold to an owner-occupier for $3.85 million.

It’s the first deal in 12 years in the building which is majority-owned by the Australian Council of Trade Unions. The ACTU bought into the property after selling its Swanston Street digs in 2006.

The sale of the 579 sq m office was negotiated by JLL’s Tim Carr and Nick Peden at a rate of $6650 a sq m. The union paid $2 million in 2012.

The CBRE team also recently sold a boutique suite on level three of the McPherson’s building at 546 Collins Street for just over $8000 a sq m.

Other notable strata offices for sale include level 8 at 420 Collins Street, one the few offices in the building not previously owned by bankrupt Victory Offices founder Dan Baxter. It’s for sale through JLL for $2.72 million.

Meanwhile, a 196 sq m office on level eight of 140 Bourke Street is also up for grabs. Its 124 sq m neighbour sold last year for $1.23 million. Savills agents Tom O’Halloran and Tim Grant are handling that one.

On the edge of the legal district, part of level one at Normanby Chambers at 430 Little Collins Street is going to auction on October 3.

The CBRE agents are selling the 92 sq m office on behalf of Callum Fraser who jointly developed the building with former wife Zahava Elenberg and father-in-law Morry Schwartz in 2005.

It’s just upstairs from the Chancery Lane restaurant which chef Scott Pickett and his co-owner David Anderson are selling for $10 million.