The Sisters of the Good Shepherd are off-loading one of their quietly held investment properties, Stalbridge Chambers, at 443 Little Collins Street.

Records show the Sisters’ investment vehicle, Denison Rights, bought the building 30 years ago for $3.7 million and could be looking at an $18 million-plus sale.

The distinctive eight-storey building, on the corner of Bank Place, was designed by Twentyman & Askew – the architects behind the Block Arcade – in 1891.

443 Little Collins Street, Melbourne. Credit: Supplied

The 2583-square metre building includes 35 offices and six shops, and returns about $530,000 a year in income; fully leased, it could command up to $955,000.

The building’s recent transaction history is a telling illustration of Melbourne property cycles.

In 1988, it so

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