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Stonebridge Property Group is pleased to preset a truly generational opportunity, positioned as one of Fitzroy Street St Kilda’s largest undeveloped major landholdings.
Held in the same family for over 50 years, 83-87 Fitzroy Street, St Kilda is set for redevelopment or repositioning with favourable lease structures providing scope for short term site access.
Key highlights of the opportunity include:
- Positioned on an expansive and favourably zoned 1,773 sqm* landholding bolstered by highly accessible rear lane access via Jackson Street
- One of St Kilda’s most prominent sites with 30.5 m* of rare retail exposure (5 shop fronts) to the coveted Fitzroy Street
- A proven hospitality location home to the iconic Topolino’s Italian Restaurant, a stalwart of St Kilda for over 53 years
- The property benefits from a rare, and valuable, 24-hour liquor licence
- Substantial improvements span 1,531 sqm* and include 4 Fitzroy Street fronting retail spaces, 8 separate apartments and an underutilised/expansive level one retail/office space
- Offering outstanding development upside with expansive scale, predominantly Commercial 1 Zone and potential for a residential, build to rent, retail or mixed-use outcome (STCA)
- Located within the heart of St Kilda undergoing rapid rejuvenation with major projects nearby and precedence of 5-level developments including the neighbouring Victorian Pride Centre and the Fortis’ 61-73 Fitzroy Street (under construction)
- St Kilda’s demographic profile shows that 30.4% of residents are aged between 25 and 34, with over 20% earning more than $2,000 per week (ABS 2021). This strong young professional cohort underpins both the demand for and capacity to spend on new housing
- Set amongst some of Melbourne’s most well-known entertainment venues including The Esplanade (The Espy), The Price Hotel, Palais Theatre & Luna Park
- Well-connected to the CBD and surrounding suburbs via Fitzroy Street trams, bus & light rail - St Kilda Station is located 150 m* adjacent
- Located on the doorstep of some of Melbourne’s most affluent suburbs and desirable lifestyle amenity, including St Kilda Beach (700 m*) and Albert Park Lake (675 m*)
- Boasting a vibrant and affluent surrounding demographic – neighbouring suburbs Albert Park & Middle Park boast median house prices of $2,265,000 & 2,532,500 respectively
- The property is being offered separately or in-one-line
To obtain further information or to arrange an inspection, please contact the exclusive selling agents, Stonebridge Property Group.
Stonebridge’s Strip Retail Investments team is a market leader, with over 30 years of combined experience specialising in the divestment of metropolitan Melbourne strip retail assets.
Julian White
0422 764 137
Nic Hage
0448 782 594
Rorey James
0439 400 081
Chao Zhang 张超
0411 625 068
*Approximately
Property Code: 1484
Remember to mention you found this property on DevelopmentReady
Stonebridge Property Group is pleased to preset a truly generational opportunity, positioned as one of Fitzroy Street St Kilda’s largest undeveloped major landholdings.
Held in the same family for over 50 years, 83-87 Fitzroy Street, St Kilda is set for redevelopment or repositioning with favourable lease structures providing scope for short term site access.
Key highlights of the opportunity include:
- Positioned on an expansive and favourably zoned 1,773 sqm* landholding bolstered by highly accessible rear lane access via Jackson Street
- One of St Kilda’s most prominent sites with 30.5 m* of rare retail exposure (5 shop fronts) to the coveted Fitzroy Street
- A proven hospitality location home to the iconic Topolino’s Italian Restaurant, a stalwart of St Kilda for over 53 years
- The property benefits from a rare, and valuable, 24-hour liquor licence
- Substantial improvements span 1,531 sqm* and include 4 Fitzroy Street fronting retail spaces, 8 separate apartments and an underutilised/expansive level one retail/office space
- Offering outstanding development upside with expansive scale, predominantly Commercial 1 Zone and potential for a residential, build to rent, retail or mixed-use outcome (STCA)
- Located within the heart of St Kilda undergoing rapid rejuvenation with major projects nearby and precedence of 5-level developments including the neighbouring Victorian Pride Centre and the Fortis’ 61-73 Fitzroy Street (under construction)
- St Kilda’s demographic profile shows that 30.4% of residents are aged between 25 and 34, with over 20% earning more than $2,000 per week (ABS 2021). This strong young professional cohort underpins both the demand for and capacity to spend on new housing
- Set amongst some of Melbourne’s most well-known entertainment venues including The Esplanade (The Espy), The Price Hotel, Palais Theatre & Luna Park
- Well-connected to the CBD and surrounding suburbs via Fitzroy Street trams, bus & light rail - St Kilda Station is located 150 m* adjacent
- Located on the doorstep of some of Melbourne’s most affluent suburbs and desirable lifestyle amenity, including St Kilda Beach (700 m*) and Albert Park Lake (675 m*)
- Boasting a vibrant and affluent surrounding demographic – neighbouring suburbs Albert Park & Middle Park boast median house prices of $2,265,000 & 2,532,500 respectively
- The property is being offered separately or in-one-line
To obtain further information or to arrange an inspection, please contact the exclusive selling agents, Stonebridge Property Group.
Stonebridge’s Strip Retail Investments team is a market leader, with over 30 years of combined experience specialising in the divestment of metropolitan Melbourne strip retail assets.
Julian White
0422 764 137
Nic Hage
0448 782 594
Rorey James
0439 400 081
Chao Zhang 张超
0411 625 068
*Approximately
Property Code: 1484
Remember to mention you found this property on DevelopmentReady
