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142-146 Leicester Street, Carlton, VIC 3053

2. Property Highlights

University Precinct Freehold with Development Upside
  • 280sqm* capital city zone land holding
  • 550sqm* total building area
  • Short term holding income of $52,662.35

Colliers Melbourne City Sales are pleased to present this exceptional standalone Carlton asset superbly located on the doorstep of the CBD. 142-146 Leicester Street, Carlton is offered For Sale by International Expressions of Interest closing Wednesday 6th of March 2024 at 3pm (AEDT).

142-146 Leicester Street, Carlton features a substantial two-level building of 550sqm* set on a Capital City Zoned land holding of 280sqm*, which is enhanced by a combined frontage of 25m* to Leicester Street and Leicester Place. The property currently comprises a first-floor residence and a ground floor commercial offering leased to photography and digital art studio MSS Image.

Current income is $52,662.35 per annum (excluding outgoings and GST), with the lease set to expire on 14 July 2024.

Located within close proximity to Melbourne University, 142-146 Leicester Street sits within one of the most rapidly evolving sections of Melbourne’s city fringe. Recent years have seen a surge in student accommodation development, residential development, and major infrastructure projects, with Parkville Train Station – part of the $11bn Metro tunnel Project – due to open in September 2024.

University Square, Lincoln Square, Argyle Square and World Heritage renowned Carlton Gardens are all within walking distance of the property. Surrounding lifestyle amenity and offerings include Queen Victoria Market, Lygon Street hospitality precinct, Melbourne Central and QV Melbourne.

- 280sqm* Carlton landholding

- 550sqm* two-level residence + commercial offering

- Annual rent of $52,662.35 plus outgoings plus GST

- Favourable Capital City zoning affording high-density development outcomes (STCA)

- 250m* from new Parkville Train Station (part of $11bn Metro Tunnel Project)

- World class education and medical offerings within close proximity

- Nearby public transport offerings including trams on Elizabeth & Swanston Streets

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4. Property Location

142-146 Leicester Street, Carlton, VIC 3053