The former ANL building was purchased by Riverlee in 1993, undergoing substantial commercial internal refurbishments during 1993–1998.

Located close to the junction of St Kilda and Toorak Roads, the building offered a range of quality tenancies easily accessible to Melbourne’s CBD and Flinders Street Station.  The building now consists of 13 levels of spacious commercial space, with retail outlets and a two-level basement car park.  432 St Kilda Road was sold to a superannuation fund in 1998 and continues to undergo upgrades that see it become part of a portfolio of high-quality commercial buildings within the area.