Brunswick’s designer investment: Mid-century charm meets turnkey income
A unique investment opportunity has emerged in Brunswick, Melbourne, which allows a buyer to step straight into the role of landlord through a build-to-rent model.
The 17 apartments, spread across two free-standing buildings at 791-793 Park Street, are architect-designed with a distinct mid-century feel, thoughtful layouts and designer finishes. From spacious studios to a three-bedroom apartment, every unit has been finished with a designer touch, making it highly sought-after by tenants who value style as much as location.
The property was once a hotel and has since been renovated to accommodate long-term renters. The design of the complex has helped it stand out in the competitive build-to-rent market, which is mainly populated by newly built modern towers.
“The block is managed by a team, and they regularly have people reach out and say if [an apartment] becomes available here, we’d love to have the opportunity to apply for it,” says Kristian Lunardi of Nelson Alexander Commercial. “That’s resulted in low vacancy and a strong community in the block, which also benefits the owner.”
The property is fully leased, except for one apartment, which is being used to show potential buyers. When all 17 apartments are leased, it results in a gross annual income of about $483,800 a year.
“This is low risk for an investor in the sense that, with a singular tenant, if the tenant leaves, then you’ve obviously got vacancy, but with 17 apartments, it’s so unlikely that you’re going to have more than one or two vacating at the same time,” Lunardi says.
While the building is older, the interior design and amenities are up to date. The latter include landscaped gardens, a barcecue and dining area, bike storage, laundries, and a dog wash, all of which cultivate a sense of community within the building.
It sits moments from Sydney Road, Jewell station, Melbourne University and the hospital precinct, which would suit a tenant seeking a very “northside” experience.
With options for strata titling or future redevelopment (STCA), investors will have the flexibility to shape the long-term potential of this designer asset.
Expressions of interest close at 3pm on October 1.
