A South Melbourne property at the city’s southern gateway has come to market as one of the last remaining large-scale mixed-use sites in the area.
Spanning approximately 3,422sqm with four street frontages to Kings Way, York, Tope and Market Streets, the property includes a substantial three-level office building of approximately 3,520sqm with 45 secure on-site car spaces.
The holding sits within a flexible Mixed-Use Zone within the City of Port Phillip, allowing for a broad range of future redevelopment options supporting at least 10-12 levels (subject to council approval).
The asset is currently leased to Melbourne City Mission, which has occupied the buildings since 2012 and has two years remaining on its lease term, providing an annual holding income of approximately $1,351,000.
Existing rooftop advertising signage provides current and future scope for significant rental uplift potential, capitalising on the high-profile position.
JLL’s Jesse Radisich, Josh Rutman, and Mingxuan Li have been exclusively appointed to market 164-180 Kings Way and 14 York Street, via an International Expressions of Interest campaign, working alongside Australian Professionals Property Service and Pitcher Partners.
Mr Radisich said the site represented one of the most strategic opportunities in Melbourne’s city-fringe market.
“This is the final gateway site of genuine scale in South Melbourne, positioned at one of the most prominent entry points to the CBD,” he said.
“The property offers significant upside potential through refurbishment or repositioning, with the opportunity to substantially increase passing income.
“Its rooftop signage and high-profile exposure provide additional value for occupiers and investors, making it an ideal medium to long-term landbank proposition, with obvious immediate term development scope.”
Located less than one kilometre from the Melbourne CBD, the property offers excellent connectivity via Kings Way, CityLink and multiple tram routes, as well as close proximity to South Melbourne Market, the Royal Botanic Gardens, and the Clarendon Street retail precinct.
Mr Rutman said the property’s size, zoning, and location made it suitable for a wide range of future uses.
“Given its scale, exposure and proximity to the city, the site lends itself to multiple outcomes including residential, build-to-rent, student accommodation, office, hotel, medical or life sciences,” he said.
“Few remaining landholdings offer this combination of flexibility, accessibility, and amenity in such a tightly held precinct. The existing improvements also make it an attractive option for owner-occupiers seeking to establish a city-fringe headquarters.”
164-180 Kings Way & 14 York Street, South Melbourne is for sale by International Expressions of Interest closing Friday 5 December 2025 at 2pm (AEDT).
