545 St Kilda Road, Melbourne
A substantial, mixed-use strata complex, adjoining Melbourne’s Alfred Hospital, has recently been put on the market much to the attention of local and international developers and investors.
The 2,865sqm site includes pre-existing residential units and office space. All individual owners have banded together for the sale, which is expected to attract bids of $30 million and up.
JLL Sales & Investments agents Alex McColl and Michael Godfrey have been exclusively appointed to sell 545 St Kilda Road by an expression of interest campaign closing 24 October 2018.
Historic building with convivial locality
545 St Kilda Road was built in the 1930’s and is strategically positioned adjacent major infrastructure and public transport. Nearby trams offer direct access to Melbourne’s CBD and St Kilda’s beaches, while Prahran Train Station is only a short stroll too. The site also sits in close proximity to the future Anzac Train Station.
Surrounded by Fawkner and Albert Parks, residents and end-users will be able to enjoy a world of urban greenery on their doorstep. Social amenities are too in abundance, with Chapel Street Shopping Precinct, Prahran Market and Middle Park District all nearby.
JLL's Sales & Investments Manager Alex McColl has said, “this offering represents a very rare scenario, it is almost unheard of to see a strata property of this scale offered in one line in such a prime location. There aren’t many opportunities to acquire a site of this calibre that has strong potential to suit a variety of uses, including commercial, residential and medical.”
Research conducted by JLL has shown that sales of this nature are the result of supply striving to meet demand.
“Locally, we have seen increased instances of owners coming together to consolidate their properties to take advantage of the demand for larger commercial zoned sites in Melbourne’s CBD and city fringe,” added JLL’s Michael Godfrey.
St Kilda Road, Melbourne, Summary
- Land Area: 2,865sqm
- Mixed-use strata complex including residential units and offices
- Expected to attract interest from local and offshore developers with bids upwards of $30 million
- Parks and shopping precincts in close proximity with multiple public transport options
- Neighbouring Melbourne’s Alfred Hospital
- For Sale via Expressions of Interest closing 4pm Wednesday 24 October 2018
*Please note that all financials, measurements or distances quoted above are approximate only.
For further information please contact the JLL team and mention Development Ready in your interactions.
Alex McColl – 0466 620 828
Michael Godfrey – 0437 440 245