Image: 8-24 Everage Street, Moonee Ponds
In the heart of Moonee Ponds, a compelling prospect has surfaced offering the assurance of stable returns alongside the potential for meaningful urban renewal.
The listing of 8–24 Everage Street, a fully leased retail complex with nine tenancies and 27 rooftop car parks, is a signal of confidence in Melbourne’s inner suburban evolution.
Positioned just steps from Moonee Ponds Central and the bustling Puckle Street retail strip, this 725 sqm site is a cornerstone of one of Melbourne’s most vibrant activity centres. With a combined frontage of 60 metres and zoning that supports a preferred building height of 27 metres, the site is primed for a future that could include vertical expansion, residential integration, or a mixed-use transformation.
The property is for sale through Hamish Burgess, Raphael Favas and Valerie Tang of Cushman & Wakefield and Nic Hage, Rorey James, Anderw Milligan and Ian Lam of Stonebridge.
“This is a retail investment and landbank opportunity that will appeal to a broad buyer profile,” said Hamish Burgess, of Cushman & Wakefield. “We’re seeing strong interest from private investors, family offices, and developers who recognise the long-term value of a site that offers both holding income and development flexibility.”
The asset currently generates over $400,000 per year in rent, with tenants ranging from national food chains like Subway to local service providers such as VR Barbershop and Chelsea Hair & Beauty. Each tenancy is separately titled, providing future sell-down potential, while the rooftop car park—an increasingly rare amenity in inner Melbourne—adds a layer of convenience and value.
Nic Hage of Stonebridge described the property as “One of metro Melbourne’s most promising freehold opportunities. With development potential, strong income, separate titles and rare car parking, the Moonee Ponds Collection stands out in a tightly held market.”
The site’s proximity to public transport—just 250 metres from Moonee Ponds Station and surrounded by tram and bus routes—further enhances its appeal. As Melbourne continues to grow upward and outward, sites like this, which offer both immediate returns and long-term vision, are becoming increasingly scarce.
Expressions of interest close at 2pm (AEST) on Thursday, 26 June 2025.
