Sweet arrangements

Property giant GPT has joined the exclusive club of Melbourne landlords earning millions of dollars in income from heritage building sites that have a nominal value of $1.

ASX-listed GPT has successfully disputed the City of Melbourne’s most recent valuation for the site of its 34-storey building at 100 Queen Street. The site is home to the ANZ World Headquarters as well as a clutch of Collins Street’s most important historic buildings.

via GPT’s tower worth $2 but earns $14m income