Landmark West Melbourne Property Sold for $2 Million

Well-positioned, income-generating assets in Melbourne’s inner fringe remain a rare favourite for investors and owner-occupiers

Colliers is pleased to announce the successful sale of a high-profile mixed-use property at 343 King Street, West Melbourne, which has been acquired for $2,000,000 via private sale.

Colliers Associate Director, Asia Markets | Investment Services, Yvonne Zhou commented, “The commercial property market in West Melbourne and the broader Melbourne fringe in 2025 is showing signs of cautious optimism with gradual recovery in demand, particularly for well- located, smaller-scale assets like 343 King Street.”

This three-storey corner asset, located on the doorstep of Melbourne’s CBD and directly opposite Flagstaff Gardens, attracted strong interest from investors and owner-occupiers alike. The sale reflects a land rate of $29,850/sqm and a building rate of $13,513/sqm, underscoring the strength of demand for well-located, versatile assets in the city fringe.

Comprising 148m² of net lettable area* on a 67m² site*, the property features ground-floor retail and two levels of office space, fully leased to a diverse tenant mix including the popular Biryani House, Le Lash Boutique, and Australian Migration Services. The asset was generating a passing income of $108,856 per annum at the time of sale.

“This result highlights the continued drive to acquire well-positioned, income-generating assets in Melbourne’s inner fringe,” said Colliers’ Manager, Melbourne City Sales | Investment Services, Christian Hatzis. “343 King Street offered a rare combination of location, tenancy diversity, and future flexibility.”