1/240-242 Rae Street
Fitzroy North, VIC 3068

Perfectly positioned in one of Fitzroy North’s most coveted pockets, this versatile property presents an extraordinary opportunity for those with imagination and vision. Currently configured as an open-plan office space, it offers a superb blank canvas ready to be transformed into a stunning warehouse-inspired residence (subject to council approval), or simply revitalised and enhanced as a creative studio, office, or mixed-use dwelling.

Zoned within the Neighbourhood Residential Zone (NRZ), the property comprises three principal rooms and an open retreat area, providing ideal foundations for stylish living zones or bedrooms. Additional features include a kitchenette, separate toilet, split-system climate control, a carpark on title, and an additional parking permit. The flexible layout, combined with immense potential, invites you to design a one-of-a-kind urban sanctuary that blends industrial charm with contemporary sophistication. Notably, this property does not incur any Owners Corporation fees.

Whether you choose to create your dream home or add value to an already character-rich space, your investment is perfectly supported by an unbeatable lifestyle location. The property is moments from St Georges Road and Nicholson Street trams, Reid Street buses, Fitzroy North Village, and the lush Edinburgh Gardens. This address delivers effortless access to everything that defines vibrant inner-north living, making it an exceptional opportunity for creative transformation or professional use.