GrayJohnson Secures $2.7M Auction Sale in North Melbourne’s Booming Fringe Market

Leading Melbourne-based commercial agency GrayJohnson is pleased to announce the successful auction sale of 18-24 Baillie Street, North Melbourne, a versatile brick warehouse that attracted competitive bidding and sold for $2,700,000. 

Positioned on a 385 sqm* parcel with a 365 sqm* building footprint, the property features two expansive street frontages and dual high-clearance roller doors via Little Baillie Street. Its Baillie Street façade is lined with tall windows, flooding the space with natural light and enhancing its appeal for a range of future uses, from creative studios to boutique redevelopment. 

GrayJohnson Director Brett Simpson, said, “We had strong interest from a mix of owner-occupiers, developers and investors throughout the campaign. The property’s location, zoning and natural light made it a standout, and the auction result confirms the depth of demand for well-positioned assets in North Melbourne.” 

“Buyers are increasingly drawn to the city fringe for its connectivity, lifestyle amenity and long-term growth prospects. North Melbourne in particular is undergoing a major transformation, with new residential and mixed-use developments reshaping the precinct,” Mr Simpson added. 

Located just minutes from the CBD, 18-24 Baillie Street is surrounded by cafés, shops, and public transport, with easy access to CityLink and the Westgate Freeway. The area is also home to major institutions including the University of Melbourne, the Queen Victoria Market, and the Royal Melbourne Hospital precinct, making it a magnet for businesses seeking proximity to education, healthcare and innovation hubs. 

The sale comes amid a broader trend of rising demand for commercial properties in Melbourne’s inner north and west, where limited supply and favourable zoning are driving competition. Mixed Use zoning continues to be highly sought after, offering flexibility for occupiers and developers alike. 

Mr Simpson added, “We’re seeing a clear shift in buyer behaviour. There’s strong demand for properties that offer scope to occupy, repurpose or develop, particularly in locations that support long-term growth and lifestyle appeal. North Melbourne ticks all those boxes.” 

Another standout city fringe asset GrayJohnson is bringing to market is 248 Hoddle Street, Abbotsford. This high-profile standalone property offers excellent exposure along one of Melbourne’s busiest arterial roads, with the added benefit of signage income. Zoned Mixed Use and surrounded by a vibrant café and retail scene, the property presents a rare opportunity for owner-occupiers and investors seeking a strategic foothold in a tightly held precinct.