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Overview
AFFORDABLE OPPORTUNITY IN POPULAR CBD LANEWAY
This property at 24 Russell Place, Melbourne, offers a unique and affordable opportunity within a popular CBD laneway. It is a prime entry-level investment located superbly between Little Collins Street and Bourke Street, making it an attractive prospect for investors or owner occupiers seeking a tightly held retail asset in a blue-chip location.
The premises form part of the retail component of a prominent mixed-use development, benefiting from outstanding exposure in a high-foot-traffic laneway environment. This positioning ensures excellent visibility and accessibility, contributing to the property's appeal.
Key features of the property include a longstanding tenant, 124 Shoes, who have occupied the premises since 2011, providing a stable income stream. The space features an open plan fit out complemented by a high ceiling and a floor-to-ceiling glazed shop front, enhancing the retail presentation and customer experience.
There is potential to install an internal mezzanine level, subject to council approval (STCA), which could increase the usable floor area and add value to the investment. The location is surrounded by world-renowned luxury retailers such as Louis Vuitton, Knickerbocker, Bvlgari, Dior, and Georges, positioning the property within a prestigious retail precinct.
Additionally, the property is in close proximity to premium hotels and hospitality venues including QT, Hyde, Bar Ampere, Gin Palace, Black Kite Commune, Marra-Meo, Gimlet, and Il Bacaro, which contribute to the vibrant local environment and foot traffic.
Convenience is further enhanced by the short walking distance to the new Town Hall Train Station and Bourke Street Mall, providing excellent public transport links and access to one of Melbourne's busiest shopping areas.
Overall, 24 Russell Place represents an outstanding opportunity for an astute investor or owner occupier to acquire a well-positioned retail asset in Melbourne's CBD, combining strong tenant history, excellent location, and potential for further development.
While every effort is made to ensure the accuracy and completeness of the property information provided, no guarantee is given. Buyers should independently verify all details, inclusions, availability, pricing, and other relevant information directly with the listing agent before relying on this information.
Location
Melbourne VIC 3000
Measurements
| Type | Dimensions |
|---|---|
| Floor Area | 62 m² |
Market Insights for Melbourne VIC 3000
Other properties in this postcode
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