Billionaire property developer Lang Walker is cashing in on one of the greatest commercial property booms of this century. Mr Walker will sell his $2.5 billion Collins Square project in Melbourne in what could be the largest single property sale in Australia.
The auction, slated for early in 2016, could achieve one of the firmest returns seen so far in this real estate cycle. The income yield upon transaction is tipped to be much less than 5 per cent.
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Mercedes Ruehl writes on real estate specialising in sales, leasing and residential properties. Connect with Mercedes on Twitter.
Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
