A low-rise apartment block on Melbourne's leafy St Kilda Road boulevard has been snapped up by a Taiwanese developer handing Singapore-listed construction and property company Lian Beng Group a tidy $10 million profit.

The sale comes as low interest rates and falling vacancy levels spur a deal-making frenzy across Australia's east coast with multiple commercial towers in play.

NSW motoring organisation NRMA is moving to put the Melbourne television headquarters of Channel 7 on the market for around $90 million and a private family is offering a 12-level building in Sydney's Clarence Street for about $40 million.

Lian Beng has offloaded 596 St Kilda Road just two years after purchasing it for $25 million from a group of 19 unit owners.

In a transaction handled by CBRE and Colliers International, the group fetched a tidy $34 million after obtaining a development permit for a Bates Smart-designed 19-level building with 170 apartments.

Lian Beng executive director Matthew Ong said it was now looking for other "appropriate" investments in Melbourne and Sydney.

"We are just recycling capital," Mr Ong said.

CBRE's Mark Wizel said there was "aggressive interest" from private developers, but also from institutions who hadn't actively participated for several years.

The Taiwanese buyer was a first-time entrant to Melbourne.

Agents are yet to be appointed to sell the Channel 7 site at 160 Harbour Esplanade, subject to a lease to the the TV network that has eight years to run.

JLL's Steven Tsang and James Aroney and Henderson & Horning's Bill Rees and Will Mulvihill have been appointed to sell the corner office at 210 Clarence Street.

JLL national sales and investment director James Aroney said there were "limited purchasing opportunities available".

Sydney's CBD is still highly sought after because of low vacancy rates around 6.4 per cent and strong net effective rent growth, forecast to increase 30 per cent between 2017 and 2019, he said.

The listings follow Singapore-based fund manager TrustCapital Advisors signalling a formal sales process for its $700 million portfolio of five east coast offices, a move flagged by BusinessDay last month.

Earlier this year, Lian Beng swooped on an 18-storey office building at 50 Franklin Street for $51.5 million.

Other Singaporean groups have also been active in St Kilda Road.

Developer CEL Australia (an offshoot of Singapore-listed property group Chip Eng Seng) is expected to finalise a deal this week for a five story office at 460 St Kilda Road, a transaction also handled by CBRE.

Sydney-based Vantage Property is understood to be in due diligence on behalf of US-based private equity giant KKR for around $68 million.

Also on the boulevard, Sydney-based fund manager Fort Street Real Estate Capital put the precinct's tallest tower, a 23-level tower at 390 St Kilda Road, on the market in April.

Rockworth Capital Partners was circling the B-grade building worth an estimated $98 million.