EAST Melbourne based developer and fund manager Becton is understood to have sold another office asset, this time in the CBD.

Becton is speculated to have reaped about $18 million from the sale of 422 Little Collins Street. On that assumed figure, the group made a loss on the $22.2 million it paid Vicland for the asset four years ago.

The eight-level, 5246 square metre building is 98 per cent leased, with education service provider Cambridge International College the largest tenant. The asset returned almost $1.7 million per annum in rent, and is understood to have sold to a private investor.

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