I’m flexible.
Invest, occupy or develop
I’m exclusive.
Prime City Fringe Freehold with two street frontages.
I’m versatile.
Favourable Mixed-Use Zoning (STCA)
A versatile and well-appointed two-level commercial building with dual access and ground floor car parking.
Land Area 170 sqm*
$
Total Floor Area 255 sqm*
Gross Rental Income Ground Floor: Vacant Possession
First Floor: $22,549.92 p.a* (monthly)
Zone Mixed Use Zoning – (MUZ)
Mathod of Sale
For Sale via Expressions of Interest closing on Thursday 18th May 2023 at 3pm
*approx.
Location
Superbly located on the very fringe of the CBD and direct access to bustling Errol Street
Joff Mithen
Leasing Executive 0430 759 406 joff@astoncommercial.com.au
Jeremy Gruzewski Executive Director 0422 211 021
jeremy@astoncommercial.com.au
This Mixed-Use zoned property of exceptional quality and versatility is strategically situated in North Melbourne, a suburb within the immediate vicinity of Melbourne’s City Fringe. North Melbourne has undergone a significant transformation from its industrial roots to become an elegant inner-city oasis for numerous businesses and residents.
The property will be sold with a monthly lease in place to the first floor office, which will provide short-term income. This presents an exceptional opportunity for owner-occupiers, investors, and developers, offering unparalleled flexibility.
It is rare for the market to present opportunities that combine high-quality properties, flexible Mixed-use zoning, and a prime City Fringe location. Hence, Aston Commercial strongly encourages your active participation in this Expressions of Interest campaign for 632 Queensberry Street, North Melbourne.
melbourne cbd (2 km*)
North Melbourne Train Station 600m*
Queensberrystreet Palette Cafe
Future-proof location set to significantly benefit from the Arden Metro Train Station (estimated completion 2025), the North Melbourne Train Station, the surrounding University and Biomedical Precincts and the Queen Victoria Market.
High quality two-storey North Melbourne commercial building of 255 sqm* gross area, perfect for an owner occupier’s new headquarters, or a new addition to an investor’s portfolio.
Favourable on-site and secure car parking for up to two (2) vehicles, made accessible via a roller door off Little Provost Street.
Exceptional 170 sqm* land parcel with valuable dual street frontage to Queensberry Street and Little Provost Street. The design and development overlays allow for a building height of up to 10.5 metres.
Prospective Mixed-Use Zoning providing excellent future development, rooftop activation or NLA expansion potential (STCA).
Well serviced by public transport networks including the Queensberry Street trams, Victoria Street trams, North Melbourne train station, the new Arden & Parkville train stations (estimated completion 2025), part of the new Melbourne Metro Tunnel project.
*approx.
FRONTAGE TO QUEENSBERRY STREET
FRONTAGE TO LITTLE PROVOST STREET
The property is strategically positioned 500m* north of Melbourne’s CBD, and 1.6km* east of North Melbourne Train Station. It is encompassed by extensive inner-city infrastructure that supports the thriving North Melbourne Growth precinct. North Melbourne boasts renowned parklands, buildings, and institutions, with a dynamic character that demonstrates a balanced cohesion of inner-city living in a CBD location.
The property is conveniently located close to existing public transport options such as tram routes 57 & 58, North Melbourne, and Flagstaff Train Stations. Furthermore, it is only a short walk away from the new Metro Tunnel Project, Victoria’s largest infrastructure project, with a total cost of $11b. The project, currently under construction, is slated for delivery by 2025.
The new Arden Train Station will establish a link to the University and Biomedical Precincts, strengthening North Melbourne’s position as a future-proof location with a crosstown connection. North Melbourne is poised to benefit significantly from the Arden Urban Renewal Project, which will accommodate an additional 15,000 residents and create an additional 34,000 jobs for the precinct by 2025.
See more at: https://vpa.vic.gov.au/project/arden/
$11 Billion* Project Metro Rail Network $250 Million* Project Renewal of Queen Victoria Market
additional jobs for the precinct 15,000 additional residents for the precinct
632 Queensberry Street is a well-positioned, high quality and semi-refurbished commercial building located within the coveted City Fringe suburb of North Melbourne.
Gross Area: 255 sqm*
Car Parking: Two (2) on-site and secure car parks
Improvements: 632 Queensberry Street, North Melbourne comprises a stunning two-level commercial building in the highly coveted City Fringe suburb of North Melbourne.
Secure undercover car parking for up to two (2) vehicles is available at the rear of the building off Little Provost Street, accessible through a garage with a roller door.
The ground floor features a favourable double height entry off Queensberry Street which provides outstanding natural light. The total floor area is 145 sqm* and is largely open plan in addition to bathroom and kitchen amenities at the rear.
The first-floor benefits from a separate entry off Queensberry Street and features a front reception and three (3) separate offices with bathroom and kitchen amenities at the rear.
• Air conditioning & heating
• Double height entry
• 2 access points off Queensberry Street
• Rear laneway access
• Two (2) on-site car parks
• Electric roller door
• Ground floor cold shell
• First floor office
632 Queensberry Street North Melbourne occupies a prominent and future-proof site with over 13 m* of dual street frontage to Queensberry Street and Little Provost Street.
Certificate of Title: The property is contained within the following Certificates of Title: Volume 04794 Folio 666
Car Parking: Two (2) on-site and secure car parks
Zoning: Mixed Use Zoning (MUZ)
Municipality: City of Melbourne
Land Area: 170 sqm*
Frontages: Queensberry Street 6.8 m* Little Provost Street 6.5 m*
632 Queensberry Street is located only 500m* east from the Arden Renewal Precinct and is set to benefit from significant growth in the near future.
We specialize in Speech Pathology and Autism Spectrum Disorder (ASD) service, focusing on Early Stage Denver Model (ESDM) in North Melbourne, Victoria. Our goal is to help young people aged 7 and under and their families communicate better. We use evidence-based, family-oriented, and relationship-driven therapy, with a focus on ESDM, which improves overall communication skills through play-based learning. We offer personalized parent training with high feedback and communication and create customized programs for each young person or family. Our team includes a Certified Early Start Denver Model (ESDM) therapist, a Certified Practicing Speech Pathologist, two Allied Health Assistants, a Speech Pathologist, and a Child Educator.
https://earlycommunicators.com.au
The current tenant is leasing the first floor on a monthly basis. This will allow flexibility for buyers to either occupy immediately or provide a short-term income to assist during a development planning stage.
The property consists of rear parking for multiple vehicles, bathrooms and kitchenettes across both floors, and two access points off Queensberry Street.
Refer to floor plan on Page 26.
632 Queensberry Street is ideal for small to medium sized commercial owner-occupiers seeking to invest in their business. Given the buildings flexible configuration, the property may suit a range of business operations including cooperate and family office, hospitality and retail.
$
An exceptional opportunity for a private investor seeking to acquire a strategically located City Fringe commercial office investment in a burgeoning location which is set to benefit from significant public and private infrastructure investment.
There is an opportunity to unlock further value in the property through a refurbishment program to drive high rental returns or increase NLA (STCA).
With the site benefitting from valuable Mixed-Use Zoning, there is an opportunity to redevelop the site in the short term to medium term for residential, office or mixed-uses (STCA).
Melbourne’s CBD and City Fringe have seen a surge in rooftop activity, thanks to the rise of multiple rooftop bars like Johnny’s Green Room and the Prince Alfred Rooftop Bar. 632 Queensberry Street presents a unique opportunity to take advantage of this trend. With versatile zoning, the rooftop offers a canvas for innovative ideas that could turn it into a popular destination or serve as an excellent breakout space for office occupants.
The current tenant is leasing the first floor on a monthly basis. The property also benefits from dual access points off Queensberry Street which will provide flexibility for buyers to occupy the ground floor and retain holding income from the first floor tenancy.
Method
Terms
Inspections Strictly
Rear access provides potential subdivision and development opportunity
Great sales results always get talked about. The work that makes them happen, usually doesn’t.
There’s so much smoke around sales, that it’s hard to even talk about it in a brochure without a smile. Everyone makes claims, but the obvious truth, is not everybody is equally good at this.
One of the differences at Aston Commercial, is that while what we say might be called an “opinion”, it’s always based on evidence. We do our homework first and talk later.
Another difference is that for us, sales is very much a whole team exercise, where there are many players and all our departments work together in the pursuit of the best result.
The experience of our team members are reinforced by Client testimonials, which lead us to being more than a real estate agent, but a trusted advisor
Deciphering the highest and best use and positioning your property through the implementation of elite marketing across all mediums
A relentless “never give up” attitude focused on the Client destination
DISCLAIMER
“Materials” refers to any representations, statements, documents, data, statistics, measurements, estimates, figures, calculations, projections, approximates or otherwise stated by Aston Commercial Pty Ltd whether verbally or in writing. The Materials have been collated to assist potential purchasers for advertising and general information only to assist potential purchasers to decide whether to proceed with further investigation in relation to the property or the land. The Materials provided by Aston Commercial does not constitute any offer or contract of sale and is not to be relied upon prior to signing any relevant contract. Any dimensions or measurements of the property or the land (internal and external) are approximates only and should not be relied upon before signing any contract. The potential purchaser must conduct investigations to satisfy themselves that any Materials provided are accurate. Aston Commercial excludes unequivocally all inferred or implied terms, conditions and warranties arising out of the Materials and excludes all liability for loss and damage arising therefrom.
*Approximate