Dustin Martin, Ralph Carr, find tenant for Abbotsford commercial investment


Premiership footballer Dustin Martin (pictured, top, as part of a Bonds Living campaign), with his manager Ralph Carr, have found a tenant to occupy a recently acquired co-owned commercial investment, in Melbourne’s inner north east Abbotsford.

The mixed-use building at 367 Victoria Street (pictured, below) was only offered for rent in June following a swank renovation by the landlords.

The online listing was marked as leased this week.

Victoria House at 367 Victoria Street, Abbotsford, was leased by Jones Real Estate’s Paul Jones shortly after being listed.

Known as Victoria House, the 560 square metre building includes a ground floor retail space and upstairs office.

Mr Carr and Mr Martin bought the asset for $3 million in February via a company of which they are directors.

The leased space was marketed by Jones Real Estate’s Paul Jones for an annual rent of about $168,000 – or $300 per square metre.

Mr Jones declined to comment about any part of the deal when contacted.

Elsewhere in Melbourne’s inner-east, Mr Carr and Mr Martin co-own two warehouse converted offices in Richmond’s Butler Street, via a company name Butler Property Group Pty Ltd.

Coincidentally, Mr Jones leased these buildings (#25 and #29-31) earlier this year.

The unrenovated property at 367 Victoria Street, Abbotsford, from a former Steveway Property retail leasing campaign. Dustin Martin and Ralph Carr paid $3 million for the building in February before undertaking a full renovation.

As we reported in June, Mr Carr’s commercial property portfolio is speculated to be worth in excess of $30 million.

One of his assets, a landmark and historic Richmond Hill office at 229 Lennox Street – for years the headquarters of Mr Carr’s management business – was recently put up for rent, again via Mr Jones.

Mr Carr also appears to have sold his outgoing family home in Shakespeare Grove, Hawthorn – as we are reporting in a separate story today.

The renovated five bedroom mansion in the revered St James Park Estate hit the market in April.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.