A rare St Kilda corner with significant development upside

A rare St Kilda corner with significant development upside


October 2018
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A rare St Kilda corner with significant development upside

77 Fitzroy Street, St Kilda, 3182
A prominent and sizeable corner property on St Kilda’s renowned Fitzroy Street has recently been placed on the market ahead of what is sure to be one of the hottest auctions to close the 2018 year.

The property sits on 504sqm of land with a total street frontage of 46m and surrounded by a suite of new and exciting developments; a new $35 million Pride Centre has opened next door, The Block’s ‘Gatwick’ development is directly opposite and The Block’s 2019 project is just metres down the road.

Allard Shelton agents James Gregson, Martin Huang, Michael Ryan and George Zint have been exclusively appointed to sell 77 Fitzroy Street, St Kilda, at auction on 29 November 2018 at 12pm.
 

An array of development outcomes await

With 18.79m of direct street frontage to Fitzroy Street, developers can look to capitalise on the site’s prominence in many ways. A multitude of office or retail configurations allow astute developers creative freedom to explore many avenues of commercial success.

“The site retains short term holding income, providing ample time to draw plans and begin the approvals process,” selling agent George Zint commented.

“It’s a remarkable space in a spectacular setting; developers have flexibility and time in a rejuvenating precinct – in modern times it’s rare to see these attributes all line up in one site.”
 

The area is undergoing a rejuvenation that has eyes set on the future

“St Kilda has been experiencing a rapid and exciting transformation over the past five years,” Martin Huang notes of the area.

“The Acland Street shopping precinct has undergone a significant lift, the St Kilda foreshore beams with world-class attraction and Fitzroy Street is starting to (re)take flight, after a decade of reduced sentiment. With the St Kilda Triangle development on the way, and The Block’s second St Kilda based project happening next year, now is the time to be getting into the area – wait three years and you would have missed the boat!”
 

Fitzroy Street, St Kilda, Summary

  • Land Area: 504sqm.
  • Combined street frontage of 46m - including 18.79m frontage to Fitzroy Street.
  • Next door to $35 million Pride Centre and opposite The Block’s "Gatwick" development.
  • Two level building in place with short term holding income.
  • Rejuvenating lifestyle precinct offering genuine uplift, with a heavy amount of government and private investment to the immediate area.
  • For Sale via Auction - 12pm Thursday 29 November 2018.

*Please note that all financials, measurements or distances quoted above are approximate only.

For further information please contact the Allard Shelton team and mention Development Ready in your interactions.

Allard Shelton
James Gregson – 0421 516 480
Martin Huang – 0416 161 166
Michael Ryan – 0433 180 199
George Zint – 0450 756 727
 

To view more details on the listing click here.

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