Teska Carson Matthew Feld and Stephen Speck, are marketing a Victorian Terrace office and residence property for sale in Carlton North suited to occupiers, investors and value-add buyers. The property at 671 Rathdowne Street for auction on Wednesday, May 26 at 1pm on site.

The 671 Rathdowne Street property is located in the renowed Rathdowne Village, opposite Curtain Square and within close proximity of Carlton Gardens, Melbourne University and Melbourne CBD.

The property comprises a 120 square metre, two level, Victorian terrace building with an office on the ground level together with a rear living area and courtyard, and three bedrooms and a bathroom upstairs.

The 135 square metre site, zoned Neighbourhood  Residential  (NRZ1) under the City of Melbourne Planning Scheme, also includes a single lock-up garage at the rear with laneway access.

According to marketing agents, Teska Carson’s Matthew Feld and Stephen Speck, the property will be sold subject to a three year lease to Project 12 Architecture at $54,986 per annum plus outgoings and GST with 4 per cent annual reviews.

Mr Feld said the property represented an exceptional opportunity to invest in an outstanding freehold property offering a securely leased asset with excellent growth potential and only two kilometres from the centre of Melbourne.

“Rarely does a property of this calibre, and offering so much potential, become available in this tightly held and very popular inner city precinct.

“Rathdowne Street benefits from its prime position on Melbourne’s CBD doorstep and its close proximity to universities, parks, recreational facilities and first rate public transport,’’ Mr Feld said.

Mr Speck said inner city properties within the most popular suburbs were becoming increasingly rare as Melbourne’s population continued to grow.

“Carlton North has an exceptional reputation as a residential address with quick access to every essential amenity including transport and freeway access. Demand has also been driven by its close proximity to tertiary educational institutions including Melbourne and RMIT universities and hospitals.

“Properties which provide both residential and office components in this precinct will suit a wide range of buyers including a rising number of those who post-COVID are spending many more hours working from home,’’ Mr Speck said.

Mr Speck said the property had a number of outstanding investment attributes including:

• The location in one of Melbourne’s most popular and best known inner city precincts;
• The secure lease profile;
• The attractive Victorian building in excellent condition throughout; and,
• The close proximity to the CBD and a variety of transport options, universities, parks, and recreational facilities.

To request a copy of the Information Memorandum please contact one of the marketing agents via the contact form below.