Permit Approved for a 32-Storey + Ground Floor Development in Melbourne’s Vibrant 24-Hour Elizabeth Street
Stonebridge Property Group is proud to present for sale 441-447 & 449-451 Elizabeth Street & 139-141 Franklin Street, Melbourne (‘Elizabeth & Franklin, Melbourne’), a 1,530 sqm* CBD landholding permit approved for a 32-storey + ground floor development.
The property consists of three buildings along Melbourne’s vibrant Elizabeth Street all generating holding income.
Located in proximity to Queen Victoria Market and major Melbourne development projects, the Property offers the opportunity to develop the landholding, hold as passive income, reposition to a retail/hospitality offering, or strata sell down.
The key highlights of the offering include:
- 1,530 sqm* Capital City Zone landholding across 3 separate titles; for sale individually or in one line
- Expansive 43 m* dual street frontage to Melbourne’s iconic Elizabeth Street and Franklin Street^
- Permit approved 32-level + ground floor development
- Holding income from retail and residential tenants on short term leases with potential to increase rents significantly if longer term leases are offered
- Along the vibrant 24-hour Elizabeth Street and in proximity to world class landmarks including Queen Victoria Market (175 m*), Melbourne Central (225 m*), QV Melbourne (425 m*) and RMIT (125 m*).
- Nearby Melbourne Metro Tunnel’s forthcoming State Library Station (estimated completion 2025) and major surrounding developments including Lendlease’s $1.7 billion Gurrowa Place and Brookfield Asset Management’s $105 million 100-106 Franklin Street development which will facilitate growth in the precinct
- One of the last remaining development sites of scale along Elizabeth Street
To obtain further information, or to arrange an inspection, please contact the exclusive selling agents, Stonebridge Property Group.
Julian White
+61 422 764 137
Chao Zhang 张超
+61 411 625 068
^ Including the carriageway
*Approximately
Property Code: 1223
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