West Melbourne has become a thriving hub for investors and businesses seeking prime city fringe warehouses with unlimited potential. The demand for these versatile spaces is skyrocketing as entrepreneurs recognise the value of establishing a presence in this vibrant and strategically located area.
With its close proximity to the CBD, excellent transportation links, and a thriving commercial landscape, West Melbourne offers a unique opportunity for companies looking to capitalise on the city's growth. These warehouses, known for their expansive layouts and adaptable configurations, provide the ideal canvas for a wide range of industries, including logistics, e-commerce, creative studios, and more.
An exceptional opportunity to acquire a strategic landholding with unlimited potential is set to hit the market this week at 154-160 Stanley Street, West Melbourne, with a price guide of $3.7 million plus.
With a major strategic landholding of 496 sqm*, the expansive clear-span, saw-tooth warehouse features high ceilings, mezzanine level storage, offices, bathroom/kitchen amenities, and a large cool room facility.
Offered with a flexible lease, this property is situated within a favourable Special-Use Zone (SUZ), this property permits a multitude of uses, including office, residential, student accommodation, serviced apartments, co-living, office, and retail (STCA).
Its location, just 100m* from Spencer Street, West Melbourne's recently announced central high street, positions it perfectly to benefit from the forthcoming direct tram line into the Melbourne CBD, as well as the new retail amenities, including shops, cafes, and hospitality venues.
Conveniently accessible, the property is also a mere 400m* from the Melbourne CBD, Flagstaff Gardens and Train Station, and enjoys close proximity to the Dynon Road access to the Tullamarine Freeway. It is surrounded by a growing number of successful projects by leading developers, contributing to the expansion of commercial, residential, and student accommodation spaces within the CBD.
Alexander Leggo, Cushman & Wakefield’s Executive Investment Sales, Victoria said the strategic location of this landholding makes it an ideal investment opportunity, set to benefit from significant government infrastructure investment, including the Spencer Street transformation project, Queen Victoria Market revamp, Melbourne Metro Tunnel Project, and the ongoing growth of the Biomedical and University Precinct.
“As the demand for flexible and dynamic workspaces continues to surge, West Melbourne is poised to become the epicentre for innovative businesses seeking a strategic foothold in this bustling city fringe location.
“Investors and occupiers alike are keeping a keen eye on this market, as the potential for long-term growth and success is unparalleled” he said.
With exponential population growth, increasing demand for new spaces, and substantial infrastructure investment in the vicinity, owner-occupiers, developers, and investors are strategically positioned to reap the rewards of this prime location.
Anthony Kirwan, Cushman & Wakefield’s Associate Director Investment Sales, VIC believes this unique opportunity in West Melbourne offers a multitude of possibilities for occupiers, developers, and investors seeking to make their mark in one of the most dynamic and sought-after areas of Melbourne.
“154-160 Stanley Street’s strategic location, versatile zoning, and proximity to key amenities and infrastructure projects, means this asset is a prime investment option that cannot be overlooked”.
154-160 Stanley Streets is for sale by On-Site Public Auction on Thursday 20 July 2023 at 12:30 pm AEST through the Cushman & Wakefield Melbco City Fringe team.