A TRIPLE-CHARGED HISTORIC LYGON ASSET TO RETIRE WITH.
EXPRESSIONS OF INTEREST: Closing Wednesday 26th March 2025 at 3pm, unless sold prior.
POINT OF INTEREST:
The jewel of the crown - it doesn’t get more heritage charm than a triple-stacked Lygon classic. And if it’s not the stroll to Carlton Gardens, Melbourne University, or the CBD that’s the drawcard for you, it will be the strategic mixed-use set-up of the commercial and residential venture that will see you likely retire here (early). The ground floor is a classic food-and-beverage or retail space and proudly leased to Martabak Pecenongan 78 & D’Bakmie — a mouthful to say, a delicious one to try. They have just renewed for a 3 + 3-year lease from December 2024. Head upstairs to two apartments, the first-floor offered with vacant possession ready to occupy or re-lease, a spacious residence that has a generous bedroom, living and dining space with views out to Lygon Street and lofty ceilings reaching 4 m* for both apartments. The second-floor residence has a month-to-month agreement, with assured rental growth for one of the best locations in Melbourne.
Drop the pin on this address and you’ll realise the walkability, from Carlton Gardens and Princes Park to the CBD and Cinema Nova. The new train station via Metro-tunnel at Melbourne Uni is a game-changer. Linking directly to key lines like Cranbourne, Pakenham, and Sunbury, it cuts commute times and connects the area effortlessly to the CBD and beyond. For students, professionals, and residents, it’s the convenience of modern transit right at your doorstep — supercharging foot traffic on Lygon Street and elevating the area's appeal as both a business and cultural hotspot.
- 278 sqm* total building area.
- 117 sqm* total land area.
- Commercial 1 zoning.
- 3 on site car spaces at the rear.
- Rear street access.
- 700 m* from Brunetti Classico and Lygon Court.
- 10-minute* walk from Melbourne University.
- 500 m* from La Trobe Street.
- University High School Zoning.
Tenancies:
- Fully let estimated income of $107,000 p.a.*
- Ground floor retail leased to Martabak Pecenongan 78.
- First-floor apartment offered with vacant possession offering flexibility to occupy or re-lease.
- Second-floor residential monthly tenancy.
POINT OF VIEW:
A historic asset with timeless charm, ask any real estate expert and they’ll tell you to diversify your portfolio — and this one blends residential appeal with a stable commercial opportunity at the base.
*Approx.
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