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Overview
This fully fitted strata office is situated within the iconic 405 High Street building in Northcote, representing a rare opportunity to acquire a high-exposure, income-producing asset in one of Melbourne’s most sought-after commercial precincts. The property is securely leased to a reputable tenant, providing immediate income with fixed annual growth and a competitive net return when compared to similar inner-north commercial properties.
The lease profile is modern and attractive, supported by a quality tenant covenant which minimizes ongoing capital expenditure and positions the asset as a defensive yield investment with long-term potential. The office benefits from a premium-quality fit-out designed to enhance tenant retention and mitigate vacancy downtime risks. Its flexible floorplan can accommodate a broad range of office users, including potential owner-occupiers.
Additional features include disabled access, secure entry, and a secure underground car space, supporting the property's strong investment appeal. The location offers excellent connectivity with Northcote Plaza only 110 metres away, the Route 86 tram right at the doorstep, and Northcote Train Station within easy walking distance. These transport options ensure consistent leasing demand and provide resilience across different market cycles.
Key Property Features
- Strata office area approximately 165 square metres
- Premium, fully fitted office accommodation with multiple workstations, private offices, and a boardroom
- Separate kitchen and bathroom facilities
- Disabled access and secure entry
- One secure underground car park
- Visitor car parking availability
- Prime exposure on High Street with prominent tram frontage
Investment Summary
- Secure lease in place with OnQ Software
- Three-year lease term commenced December 1, 2023
- Four additional one-year renewal options
- Current income approximates $48,000 per annum plus GST and outgoings
- Three percent fixed annual rental increases
- Reflects a strong, stable yield in the inner-north strata office market
- Low management requirements offering a set-and-forget investment approach
Opportunities to acquire assets with secure income, fixed rental growth, and genuine scarcity on a prominent High Street are rare and highly sought after. This property presents a compelling proposition for investors seeking reliable yield with future flexibility. Inspections are recommended to fully appreciate the merits of this opportunity.
Local Market Insights
In Northcote, Quiet Listings observed 6 new commercial properties entering the market over the last 30 days, up from 2 during the previous 30-day period, with an average advertised asking price of $650,000. The property type mix of listed properties is predominantly Houses at 47%, followed by apartments (21%), and townhouses (12%). Nelson Alexander was the most active agency monitored, representing 24.1% of all new listings monitored during the last 30 days. These insights are based on agencies currently monitored by Quiet Listings and are updated as the local market changes.
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
Northcote VIC 3070
Measurements
| Type | Dimensions |
|---|---|
| Floor Area | 165 m² |
Market Insights for Northcote VIC 3070
Other properties in this postcode
* Search brackets are a technical classification derived from unverified metadata set by the listing agent for search filtering. It is not an official price guide, a valuation, or a representation of the seller's reserve. This data is provided for search transparency purposes only.
