According to marketing agents, Teska Carson’s Matthew Feld and Michael Taylor, the 17 Duke Street warehouse/venue is ideally suited to investors or future owner-occupiers and developers.

The 270 square metre, solid brick, building has been transformed by Moon Dog into one of the most popular bars in town. It sits on a 319 square metre site with 11 metres frontage to Duke Street and will be sold subject to a lease to Moon Dog on a new six year term at $49,347 per annum net.

Situated in the heart of Abbotsford, and just four kilometres from the CBD, the property is within easy reach of public transport, freeways and numerous recreational and retail amenities, including the Yarra River.

Mr Feld said the property offered an extremely good location with solid improvements in very good condition and within easy reach of every desirable amenity.

"The property presents investors, as well as future owner-occupiers or developers, with an exceptional opportunity in a suburb which has become increasingly popular with both residential and commercial tenants seeking to take advantage of the fantastic lifestyle and business prospects that such locations offer.

"Abbotsford is now one of the few inner suburbs which is still offering opportunities like this and for that reason we expect quite a strong level of enquiry,’’ Mr Feld said.

Abbotsford lies between the leafy environs of the Yarra River and Punt Road in a precinct which has proven increasingly attractive to a wide range of property investors, developers and owner- occupiers.

Mr Taylor said population growth and demand for residential accommodation had intensified competition for property investment and development opportunities in Abbotsford resulting in substantial growth in recent years with the construction of several new high profile residential and commercial developments.

The property will be auctioned on Thursday, June 9, at 1pm on site.