Iconic Essendon Toy Store Property Hits Market After Nearly 50 Years

A rare opportunity has emerged to secure a prime corner property in one of Essendon’s most tightly held retail precincts. Currently home to Mind Alive, a beloved toy store operating since 1978, the property offers exceptional potential for occupation, investment, or redevelopment in a thriving suburban hub.

Located at 9 Leake Street, Essendon, the site spans 328 sqm and features a 199 sqm single-story building with mezzanine, storage, and kitchen facilities. Its corner position delivers a prominent 10.2-meter frontage, onsite parking, and high visibility with approximately 28,000 vehicles passing daily along Mount Alexander Road.

Zoned Commercial 1, the property provides the flexibility to accommodate various uses, including retail, hospitality, or mixed-use development.

Savills Australia & New Zealand agents James Latos, Julian Heatherich, and Benson Zhou are managing the sale of the property.

James Latos, Associate Director, Commercial Sales at Savills Australia and New Zealand noted the property’s outstanding potential, “The long-standing success of Mind Alive underscores the enduring strength of Essendon’s retail precinct. This property’s location and zoning offer future owners a wealth of possibilities to capitalise on its unique attributes.”

Julian Heatherich, Director, Commercial Sales at Savills Australia and New Zealand highlighted the appeal of the location, “Essendon combines vibrant community infrastructure, seamless transport connectivity, and strong economic growth. Rarely do opportunities like this arise, allowing buyers to secure a prime asset in a location with long-term stability and upside potential.”

Benson Zhou, Director, Commercial Sales at Savills Australia and New Zealand, added, “Corner retail sites in tightly held areas such as this are highly sought after. With its exposure, accessibility, and scope for diverse uses, 9 Leake Street presents an unmatched opportunity in the Melbourne market.”

Mind Alive has served as a community cornerstone for nearly five decades, offering a carefully curated selection of educational and imaginative toys that have inspired generations of families. The store’s welcoming atmosphere and dedication to quality have made it an Essendon institution, reflecting the area’s dynamic and family-friendly character.

Essendon itself is known for its rich lifestyle offerings, including top-tier schools like Lowther Hall and Penleigh Essendon Grammar, recreational amenities, and a vibrant mix of retail and hospitality businesses. The property benefits from proximity to public transport, with tram services along Mount Alexander Road and Essendon Train Station nearby, ensuring unmatched connectivity to Melbourne’s CBD.

The property will be sold via onsite public auction on March 6th at 12:30pm and is expected to attract interest in the high $1m range.