144 Bell Street
Preston, VIC 3072

This property presents a rare and exceptional opportunity for occupiers and developers seeking a high-profile landholding in the core of Preston, one of Melbourne's most sought-after inner-northern suburbs. The site comprises a substantial 2,300 square meter land parcel with significant dual street frontages to Bell Street and Ovando Street, each exceeding 30 meters, providing outstanding exposure and accessibility.

The existing improvements on the site include an 880 square meter office and warehouse facility featuring both front and rear access. This setup offers immediate functionality for occupiers and generates short-term holding income. The property is highly adaptable, offering exceptional flexibility for refurbishment or redevelopment, subject to council approval.

The lease structure is designed to provide future flexibility for owner-occupiers and developers, with an early termination provision available from September 2026, allowing for strategic planning and transition.

Strategically located along Bell Street, the property benefits from excellent connectivity to major arterial roads including Albert Street and Plenty Road, facilitating seamless access to Melbourne's CBD, northern suburbs, and the wider metropolitan area. The surrounding precinct is well-established with a range of national occupiers such as Bunnings, Harvey Norman, Officeworks, JB Hi-Fi, Chemist Warehouse, and Australia Post, reinforcing the area's status as a prime commercial and industrial hub.

Key features of this offering include:

• Flexible landholding of 2,300 square meters with significant future development potential.
• High exposure frontage with over 60 meters combined frontage to Bell Street and Ovando Street.
• Existing 880 square meter office and warehouse facility with dual access points.
• Industrial 3 zoning that supports a wide range of uses, subject to council approval.
• Flexible lease profile providing current income and future vacant possession options.
• Excellent occupier and development upside, ideal for refurbishment, repositioning, or redevelopment.
• Prime inner-north location within Preston's established commercial and industrial precinct.
• Proximity to major national retailers and strong transport connectivity.

This property is offered for sale via Expressions of Interest, closing on Thursday 18 June at 4pm, presenting a unique chance to secure a versatile and strategically located commercial asset in a thriving Melbourne suburb.