Exclusive City Fringe Investment with Development Upside on Premium Melbourne Boulevard

Underdeveloped property with a specialised pathology laboratory, leased to an international healthcare provider.

Colliers is excited to exclusively bring to market a prime freehold investment opportunity with development upside at 103 Victoria Parade, Collingwood. The exceptional property features a 41-metre frontage and is strategically located at the intersection of vibrant, amenity-rich Collingwood and affluent, tightly-held East Melbourne.

The property encompasses a three-storey specialised pathology laboratory with an associated office, a basement, an undercroft, and at-grade parking. It is currently leased to an ASX-listed healthcare company until March 2028, providing a secure income stream from a leading global healthcare provider.

Sitting on 4,069sqm of prime land, the property is located within a Commercial 1 Zone along the picturesque Victoria Parade, just 1.2 kilometres from Melbourne’s CBD and Parliament Station.

Colliers Managing Director of Capital Markets, John Marasco, said, “This property presents a unique investment opportunity due to its strategic location, secure income stream, and substantial future development potential.”

“The underdeveloped land holds significant opportunity for a range of mixed-use outcomes, with planning supporting a preferred 12 levels or 40 meters of building height.”

The property is ideally located within vibrant Collingwood on the northern side of Victoria Parade, just east of Wellington Street. Over the past decade, Collingwood has transformed into a high-quality mixed-use area featuring modern office buildings, residential towers, and heritage structures amid Melbourne’s iconic bluestone laneways. To the south lies East Melbourne, renowned for its high- value properties, extensive parklands, and proximity to the MCG.

Additionally, 103 Victoria Parade is positioned on the edge of Melbourne’s renowned Biomedical Precinct, surrounded by major healthcare and education facilities, including Epworth Freemasons Hospital, St Vincent’s Private Hospital, and the Australian Catholic University.

Director of Colliers Capital Markets, Anna Cavar, added, “As Melbourne continues to grow rapidly, with a forecast population of six million by 2030, surpassing Sydney as Australia’s most populous city, it remains a prime destination for real estate investment. Melbourne’s strong economic performance and high livability make it an attractive location for both investors and developers.”

103 Victoria Parade, Collingwood will be offered for sale via an International Expressions of Interest campaign, closing on Thursday, 12 September 2024, at 3pm (AEST).