Jones Real Estate Brings Prime Melbourne CBD Freehold with Secure Income and Long-Term Development Upside to Market

2 September 2025

Offered via public on-site auction, 267–271 King Street in Melbourne’s CBD is a commanding freehold brought to market by Jones Real Estate, providing investors with a rare land banking opportunity backed by secure income and exceptional redevelopment flexibility.

The freestanding retail asset comprises 344sqm of net lettable area* across a 212.5sqm landholding*, featuring 11.4 metres of prime King Street frontage* with valuable rear access via Alston Lane. Currently 100% leased across multiple tenancies, the property generates a net passing income of $213,351 per annum + GST & outgoings (effective January 1^st, 2026), supported by a 5.3 WALE by area**.

Zoned Capital City Zone – Schedule 1 (CCZ1), the freehold offers maximum flexibility for future outcomes, including retail, commercial, residential or mixed-use development (STCA).

Strategically positioned at the western edge of Melbourne’s CBD within the thriving Flagstaff precinct, the property benefits from unrivalled connectivity and proximity to key amenity including Southern Cross Station (400m), Flagstaff Gardens (350m), Queen Victoria Market (500m*) and Marvel Stadium (700m*). The location continues to attract significant investment activity, with the surrounding precinct home to high-rise residential towers, premium office developments and Melbourne’s renowned hospitality and entertainment operators.

“King Street remains one of Melbourne’s most active CBD arterials, offering 24/7 footfall and long-term capital growth potential. This freehold presents investors with secure income today and substantial upside in one of the city’s most dynamic precincts,” said Mimi Hoang, Manager at Jones Real Estate.

This prime Melbourne CBD freehold will be offered for sale via public on-site auction on Wednesday 24th September 2025 at 12:30pm (AEDT). The campaign is led by Paul Jones, Luke Peric and Mimi Hoang of Jones Real Estate.