A well-positioned commercial building in Melbourne's inner north is back on the market just over two years after being sold under the hammer for $3 million.

Comprising a land area of 723 square metres with an existing office and showroom building of 983 square metres, 35-37 Melville Road, Brunswick West was purchased by a syndicate of intending developers on a long three-year settlement back in March 2018.

Having now decided not to proceed with their development plans, or to settle on the original extended contract terms, they have appointed agents Gray Johnson to offer the property to the market at an identical price and on the same settlement terms.

At a glance: 

• A well-positioned commercial building at 35-37 Melville Road, Brunswick West is for sale through Rory White of Gray Johnson.
• The property has a land area of 723 square metres with an existing office and showroom building of 983 square metres.
• The site was purchased by a syndicate of developers in 2018, which has since decided not to proceed with its plans.

Source: Gray Johnson

Selling agent Rory White said it meant a new buyer was able to stand in place as the purchaser on the existing $3 million purchase contract and settle it on the equally long original term in March next year.

“The building is occupied by a geological consultancy as it includes laboratory and office facilities, consulting rooms and storage areas as well as a large garage that provides ample car parking and additional storage with secure roller door access from the laneway," he said.

“The building benefits from excellent natural light on all four aspects and it holds a Commercial 1 zoning.

“The occupier (and original vendor) has confirmed that they will give vacant possession at settlement.”

Source: Gray Johnson 

In addition to offering an 18-metre street frontage with identical rear laneway access, the property's elevated position has uninterrupted views over the Moonee Valley Racecourse (where a new residential redevelopment proposal is emerging over part of the facility) and to the CBD skyline.

Mr White said the building carried "important" redevelopment potential, but could also easily suit an owner-occupier in its current condition.

“There is the tram service along Melville Road immediately outside, with rail facilities close by, plus all the inner northern suburbs entertainment and lifestyle attractions within easy reach,” he said. 

For more information, email or phone Rory White via the details provided below. 

Click here to view the listing. 

Similar to this: 

Office space leased in revamped Broadmeadows Town Hall - Gray Johnson

Mentone commercial freehold property sold for circa $2.1 million through Gray Johnson

Preston commercial freehold property for sale