Jones Real Estate is privileged to present Alfred House at 38-40 Dudley Street, West Melbourne to the international marketplace For Sale via Public On-Site Auction on Friday 2nd June 2023 at 12.30pm.
Situated in Melbourne's most exciting precinct, West Melbourne, right on the doorstep of the CBD, this extremely rare asset is available for the first time in almost 20 years.
With vacant possession offered together with mixed use zoning, the property allows purchasers the flexibility to owner occupy or lease out & generate a passive income stream.
Key highlights of this opportunity include:
- A striking, two storey rendered bluestone corner freehold, built in 1865, situated on 251sqm* of mixed use zoned (MUZ) land, with 34.4m* of frontage to Dudley & Milton Streets, currently presenting as a commercial office building with 3 bathrooms, a shower and 6 off-street car parks.
- This remarkable vacant possession opportunity is underpinned by adjoining residential catchment, outstanding surrounding retail amenity (Queen Victoria Market, internationally acclaimed medical and education precincts), public open spaces and running tracks all whilst being on the door stop of Melbourne's CBD.
- Offering substantial income generation potential of $120,000 per annum, combined with highly sought after and desirable positioning - enables the best of all worlds, suiting professional service commercial occupiers, medical providers, residential occupants and value add investors.
- The recent return of international students, tourists and migrants combined with the increase in workers to Melbourne's CBD best places the property to take advantage of pent-up demand and a limited supply of vacant possession opportunities within prime desirable locations.
- Governed and protected by Heritage Overlay (Ho3) 'to conserve and enhance heritage places of natural or cultural significance' - together with Design and Overlay (DDO 32) offering and maximum building height of 14 metres^.
*Approx.
^Subject to council approval.
For further information or to schedule a private inspection of the opportunity, please contact the exclusive selling agents.
Disclaimer: Sizes and dimensions described are approximate. Parties should not rely on the information contained within this summary; we recommend seeking professional advice before proceeding.
