Estate of late ad guru Harold Mitchell selling his South Melbourne office with a $2m+ price guide
The estate of late advertising guru Harold Mitchell is selling his former offices at 117 York St, South Melbourne.
The estate of late advertising guru Harold Mitchell AC has listed his South Melbourne offices for sale following his shock death earlier this year.
The $2m-plus York St property joins Mr Mitchell’s former home, a $4.8m-$5.2m full-floor apartment in Melbourne’s CBD, for sale as his about $60m will is realised.
Mr Mitchell was a successful businessman who founded and ran Australia’s largest media-buying agency, Mitchell & Partners.
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A prominent philanthropist who did a lot of work in East Timor, Mr Mitchell was also on the boards of the Melbourne Symphony Orchestra and National Gallery of Australia.
He was awarded a Companion of the Order of Australia in 2010 and named Victorian Australian of the Year in 2013.
He was farewelled with a state memorial in May after passing away from knee surgery complications in February, with tributes from Prime Minister Anthony Albanese, Victorian Premier Jacinta Allan and business icons from Eddie McGuire to Channel 7 boss Kerry Stokes.
Mr Mitchell’s estate is now selling the 117 York St office he had operated from for a number of years before his death, with commercial real estate firm JLL handling the listing and expecting a price north of $2m.
The office comes with high ceilings and is fit out for a modest business to move straight in.
The property is a short walk from the popular South Melbourne market.
Agent Tim Carr said the property’s major attraction was a location where you could “kick a footy to the market, if you got onto it”.
“In terms of South Melbourne, it’s a premier spot,” Mr Carr said.
With office spaces in that proximity to the local icon tightly held, he added that they had already received interest from other owners within the building and from businesses looking for a new home.
“It has high ceilings, good natural light, and the bathroom and kitchen amenities have been redone recently, so you could move in fairly quickly without having to do too much,” Mr Carr said.
With only a handful of offices in the building, the agent added that it wasn’t infeasible the site could become a development opportunity if all owners agreed.
The property’s bathroom and kitchen spaces have been updated in recent years.
The property would need little done for the next owner to get started in.
The office will go to a boardroom auction at 10.30am on October 11.
Mr Mitchell sold another York St, South Melbourne, office for his then firm Mitchell Communications Group to the Japan-based Dentsu Aegis Network for $49m in 2018.
His Level 11/201 Spring Street home has also been on the market since May, with records showing it has had its asking price reduced from an initial figure of $5.75m-$6.25m to today’s $4.8m-$5.2m.
Kay & Burton’s Monique Depierre is handling inquiries for the residential listing.
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