Rare Inner-City Development Opportunity in Melbourne’s Premier Education Precinct
Cushman & Wakefield in conjunction with Savills, are pleased to present 106–120 Berkeley Street, Carlton for Sale by International Expressions of Interest closing Thursday 14th May 2026 at 2pm (AEST).
Positioned within one of Melbourne’s most tightly held and high-performing education precincts, this rare inner-city freehold development site offers exceptional fundamentals for a high-quality purpose-built student accommodation (PBSA) project. With a concept scheme already in place, strong holding income, and direct proximity to the University of Melbourne and RMIT, this is a truly compelling opportunity not to be missed.
Key details are highlighted below:
• Valuable landholding of 661sqm* with approximately 40m* of frontage to Berkeley Street, situated within one of Melbourne’s most tightly held inner-city precincts
• Capital City Zone – Schedule 5 (CCZ5) under the City of Melbourne Planning Scheme, one of Melbourne’s most permissive zones for high-density development.
• Comprehensive concept scheme for a 282-bed, 13-storey PBSA building prepared by Plus Architecture, incorporating urban-design feedback from the City of Melbourne (STCA). NLA of 5,195sqm* & GFA of 8,195 sqm*
• Secure holding income with the property leased to Seven Seeds Coffee Roasters until May 2028, generating $177,379.36 in net rental income from June 2026 onwards (12-month demo clause for landlord in agreement). In addition to a residential lease currently providing $52,364 per annum on a month-to-month lease basis. Combined net annual passing income of $229,743.
• Located in direct proximity to the University of Melbourne (120m*) and RMIT University (620m*), within Melbourne’s established education precinct and on the doorstep of the CBD, with over 110,000 students enrolled across both campuses
• Excellent public transport connectivity with multiple tram routes along Peel and Elizabeth Streets and the newly opened Parkville Train Station (290m*), with Melbourne Central Station (860m*) also within walking distance
• Established PBSA corridor surrounded by major operators including Scape Australia (105 Berkeley Street & 122–136 Berkeley Street), UniLodge and Journal Student Living, reflecting deep institutional confidence in the precinct
• Strong lifestyle amenity with proximity to Carlton Gardens (940m*), Royal Park (1.2km*), the Lygon Street dining precinct (650m*), Melbourne Central (860m*) and Emporium Melbourne (1.2km*)
• Concept scheme meets City of Melbourne Student Housing Policy requirements, delivering a diverse room typology (17–34sqm), on-site management model, and generous communal amenity across multiple levels including study rooms, lounges, a gym and communal terrace
*Approx.
^STCA
Cushman & Wakefield in conjunction with Savills, are pleased to present 106–120 Berkeley Street, Carlton for Sale by Expressions of Interest closing Thursday 14th May 2026 at 2pm.
For more information, please contact the exclusive agents below.
Cushman & Wakefield
Leon Ma 马海翔 | +61 417 070 725
Oliver Hay | +61 419 528 540
Daniel Wolman | +61 412 957 839
Savills
Benson Zhou | +61 458 488 888
Julian Heatherich | +61 412 995 655
Andy Hu | +61 410 868 066
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