Coombes enters Melbourne market with Midtown Melbourne acquisition
Coombes Property Group has acquired Midtown Melbourne at 246 Bourke Street, marking its first major investment in the Melbourne market.
Located on the corner of Bourke and Swanston Streets, Midtown Melbourne is a nine-storey mixed-use building positioned at one of the city’s most prominent retail intersections.
The 2,787sqm asset comprises four levels of retail and five levels of commercial office with approximately 15,200sqm of lettable space. Its tenant mix includes Telstra, Chemist Warehouse, HSBC and W Cosmetics, with MUJI also set to join the precinct in 2027 under a 10-year lease.
Michael Coombes, CEO of Coombes Property Group, said the acquisition reflects the Group’s long-term approach to investing in well-located assets with clear underlying value.
“Midtown Melbourne is a high-quality asset in a central location, with strong fundamentals across retail, commercial office and long-term tenant demand,” Mr Coombes said.
“As our first major acquisition in Melbourne, it is an important addition to the Group’s portfolio and reflects our confidence in the long-term role of the CBD as a place for business, retail and connection.”
Coombes Property Group is a privately owned group that invests in, owns and manages property and infrastructure assets across Australia. Its portfolio is centred around Sydney, Brisbane and Darwin, with Midtown Melbourne now extending the Group’s footprint into Victoria.
The Group is also co-owner and co-developer of the East Over Station Development at Hunter Street, Sydney, in joint venture with Mirvac.
The acquisition adds to a portfolio shaped by long-term ownership, active asset management and involvement in property and infrastructure assets with enduring civic and commercial value.
