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The Trustees Building

401-403 Collins Street, Melbourne VIC 3000
Generated 8 November 2026
Commercial · Unoccupied - Under Renovation
—height
11floors
1937completed
5businesses
13permits

Development milestones

Completed1937The Trustees Building completed: 11 floors

Building team

Owner
Trustees Executors & Agency Co
Owner
Impact Investment Group

Planning & subdivision

Zone
CCZ1
Overlays
DDO1, DDO10, HO608, PO1
Strata plan
TP579562 · 1 lots
Scores
🚆 7 · ☕ 6 · 🌳 8 · ✨ 9

Timeline

20252 certificates · about $55k of new works
Largest: Part Level 5 - Office Fitout
20242 building permits and 3 certificates · about $699k of new works
Largest: 401 Collins St - Alteration to existing building - Rooftop
2022Council census records it as unoccupied - under renovation, 10 floors
Name recorded: The Trustees Building
8 Nov 2021Impact offers historic 401 Collins Street (Trustees Building) for sale at about $70 million
Impact Investment Group, backed by the Liberman family, offered the Trustees Building at 401 Collins Street for sale after about seven years, with an expected price of about $70 million. The article said the vendor had paid $32 million and later spent $24.5 million on refurbishment, and that WeWork had recently quit its tenancy.
20211 certificate · about $150k of new works
Largest: Lobby upgrade
20184 building permits and 4 certificates · about $12.9m of new works
Largest: Stage 2 - Proposed Balance of Remaining Works which includes FER, DDA, Fire Hydrants and Fire Hose Reels (Excluding the Rooftop Terrace)
2 Mar 2017WeWork to take most of 401 Collins Street
The Urban Developer reported that WeWork was expected to move into almost the whole of 401 Collins Street, taking about 6,000 square metres under its lease. The article said the building was owned by the Liberman-family backed Impact Investment Group.
20172 building permits · about $2.0m of new works
Largest: Stage 3 - Cold Shell Internal Non-Structural Demolition Works
20162 building permits · about $10.5m of new works
Largest: Stage 2 - Facade Rectification Works - Conditional
2015Council census records it as office, 10 floors
Name recorded: The Trustees Building
25 Feb 2014Impact Investment Group buys 401 Collins Street for $32 million in sale and leaseback
Impact Investment Group bought the 1937 office building at 401 Collins Street for $32 million from Roy Morgan Research, which leased back the whole building. The sale was reported on an initial net yield of 7.81%.
2013Council census records it as office, 10 floors
2010Council census records it as office, 10 floors
Name recorded: Bank of Tokyo House
2002First council census entry: office, 10 floors
20001 building permit · about $55k of new works
Largest: Office alts; lift shaft
19981 building permit · about $500 of new works
Largest: Removal of fire hydrant lay flat fire hoses, 401 Collins Street, Melbourne
1937The Trustees Building completed: 11 floors
Derived from Real Estate Source

Building permits and certificates (22)

Each cost is the estimate on that record. Stages of a project often repeat its full value, so these don't add up to what was spent.

16 June 2025Alterations to the Ground Floor roller door$1
28 Feb 2025Part Level 5 - Office Fitout$55k
10 Dec 2024Level 7 - Internal alteration to existing building - Stage 0$231k
28 Nov 2024Level 8 - Office Fitout$40k
22 Oct 2024Stage 2 - Altered lobby$231k
25 Sept 2024401 Collins St - Alteration to existing building - Rooftop$428k
25 Sept 2024Level 8 - Office Fitout$40k
22 July 2021Lobby upgrade$150k
03 Sept 2018Proposed End of Trip (EOT) Fitout$400k
18 July 2018Stage 4 - Cold Shell works excluding external works - conditional$9.2m
18 July 2018Stage 5 - External Rear Facade Repair (Concrete Cancer and Window rectification Works)$10.2m
13 July 2018Proposed End of Trip (EOT) Fitout$400k
31 May 2018Stage 2 - Proposed Balance of Remaining Works which includes FER, DDA, Fire Hydrants and Fire Hose Reels (Excluding the Rooftop Terrace)$12.0m
16 Mar 2018Ground to Level Nine and Roof Top Terrace - Proposed Internal Fitout - Stage 1 - Excluding DDA, FER, Fire Hydrant, Fire Hose Reel and Rooftop Terrace Area$12.0m
05 Feb 2018Stage 1 - Proposed Internal Non-Structural Demolition for Mezzanine Level to Level 9 Works Only$500k
29 Jan 2018Stage 6 - Construction of Booster Cupboard and Collins Street Entry$10.5m
12 Sept 2017Ground Floor - Tenancy Fitout$2.0m
21 Apr 2017Stage 3 - Cold Shell Internal Non-Structural Demolition Works$9.2m
04 Nov 2016Stage 2 - Facade Rectification Works - Conditional$3.0m
14 Sept 2016Alterations - 401 Collins Street Melbourne, Lift, Façade and Office Upgrade$609k
05 Dec 2000Office alts; lift shaft$55k
25 Aug 1998Removal of fire hydrant lay flat fire hoses, 401 Collins Street, Melbourne$500

Questions and answers

Is The Trustees Building residential or commercial?
The Trustees Building is a commercial building. The City of Melbourne lists its main use as unoccupied - under renovation.

When was The Trustees Building built?
The Trustees Building was completed in 1937.

How many floors does The Trustees Building have?
The Trustees Building has 11 floors above ground.

What businesses are in The Trustees Building?
The latest council census counted 5 businesses in The Trustees Building, including AUNTY GRACE PTY LTD, CRUNCHYROLL PTY LTD and Czar Workspace.

Is there office or retail space for lease in The Trustees Building?
See the commercial listings on this page, or search this address on realcommercial.com.au and commercialrealestate.com.au.

Who built The Trustees Building?
The building team section lists who's known so far. Builders, architects and developers can claim their role on this page.

What public transport is near The Trustees Building?
Flinders Street Station is the nearest train station, about 6 minutes' walk. The nearest tram stop is William St/Collins St #3, about 2 minutes' walk.

What is the planning zone for The Trustees Building?
The site is in the Capital City Zone - Schedule 1 (CCZ1). It's also under a Heritage Overlay (HO608).

Does The Trustees Building have an owners corporation?
Plan of subdivision TP579562 has 1 lot.

What has The Trustees Building been bought and offered for?
In 2014 Impact Investment Group bought the building for $32 million in a sale and leaseback. In 2021 Impact offered it for sale at about $70 million.

Has any work been done on The Trustees Building recently?
The City of Melbourne has issued 13 building permits for The Trustees Building since 1998. The most recent was in October 2024.

Sources: City of Melbourne building permits (CC BY 4.0); CLUE building information (CC BY 4.0); CLUE business establishments (CC BY 4.0); Geocoded National Address File (G-NAF) (Open G-NAF EULA (CC BY 4.0 based)). General information from public records, not legal, financial or building advice.

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