Highly presentable improvements, strong holding income and flexible zoning spark interest from occupiers and developers.
Colliers, in conjunction with Vinci Carbone, is offering 281-287 Swan Street, Richmond, positioned as a premium city fringe freehold with price expectations starting at $9.5 million. Colliers’ team of Alex Browne and Ben Baines, alongside Joseph Carbone and Frank Vinci from Vinci Carbone, are managing the sale.
This substantial two-storey office and retail building has benefited from a $1 million fit-out and presents an exceptional opportunity for owner-occupiers, land bankers, and developers to secure a high-exposure corner asset with immediate income and significant long-term potential.
Ben Baines, Director at Colliers’ Investment Services, said, “It’s rare to find a corner site in Swan Street that combines strong holding income, a well-maintained building, and significant future potential. It suits an owner occupier looking for presence and profile, or a developer with a medium-term outlook.”
Occupying a 905m²* Commercial 1 zoned site, the property features a modern, two-storey commercial building of approximately 1,441m² with secure basement parking for 12 cars. It generates strong short-term holding income from multiple tenancies, making it ideal for investors seeking immediate returns while planning future repositioning or development.
With Richmond’s urban planning reforms focusing on creating a rich and connected community hub, 281-287 Swan Street embodies this trajectory. Indeed, the Commercial 1 zoning permits a wide range of uses, including residential, commercial, or mixed-use developments, including approximately 8 storeys (STCA). This is supported by successful multi-storey projects in the area, with height precedents reaching up to eight levels.
Located along vibrant Swan Street, the site’s appeal is further reinforced by several major recent sales including 294–298 Swan Street, 1 Little Lesney Street, 2–8 Brighton Street, and 362–368 Swan Street.
Alex Browne, Associate Director at Colliers, added, “This section of Swan Street continues to evolve. You’re surrounded by vibrant hospitality, new developments and high-performing businesses, all supported by excellent public transport. It’s a perfect combination of activity and accessibility.”
Joseph Carbone, Director at Vinci Carbone, commented, “The flexibility of the Commercial 1 zone, coupled with the property’s income and location, makes this a compelling investment. Corner freeholds of this scale in Richmond are incredibly tightly held. We expect strong demand from multiple buyer groups.”
The property is located within walking distance of Burnley, East Richmond and Richmond Stations, with easy tram access along Swan Street and sits near major arterial roads. It also directly adjoins Australia Post’s new national headquarters and is just minutes from the MCG and Melbourne’s sporting precinct.
The property is being offered for sale via Expressions of Interest closing Wednesday 20th August at 2pm (AEST) 2025.
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