The bullish outlook for Melbourne’s office sector has underpinned the sale of a B-grade Bourke Street tower which has transacted for an estimated $72 million.

The 12-storey office at 601 Bourke on the corner of King Street was offloaded by businessman Greg Farmer’s Pragmatic Education Group and is understood to have been snapped up by an offshore Asian buyer.

The office has a weighted average lease expiry of 5.6 years to tenants Toshiba, Charles Sturt University, Hentys Lawyers, H J & K Industrial Consultants and Swire Shipping Agencies.

Pragmatic Education Group, run by Mr Farmer, is also a tenant.

The property, formerly known as Allianz Centre and Forestry House, was marketed by CBRE’s Kiran Pillai, Josh Rutman, Mark Wizel and Lewis Tong.