Prize city fringe office or residence for sale
A spectacularly located, land rich property – a historic manse converted office, 260 metres from the Melbourne CBD grid – is for sale.
The c1868 former Presbyterian Church residence at 97-105 (though commonly known as 101) Rathdowne Street, Carlton, carries $8.5 million-plus price hopes.
Opposite the Royal Exhibition Building and Carlton Gardens, it contains 354 square metres over two floors; ASX-listed Jatoil occupied until recently.
The space could be revamped to make a prized headquarters, with Carlton, amongst Cremorne, Fitzroy, South Melbourne and South Yarra, considered a particularly trendy and exclusive suburban office location, according to Vinci Carbone’s Frank Vinci, who is marketing it with Joseph Carbone.
Big block, multiple potential outcomes
On 1172 sqm with access to Grosvenor Place, there is also scope to repurpose the Rathdowne St manse including with a small or large extension.
Zoned Mixed Use, hospitality – be it boutique accommodation or a restaurant – a childcare or medical centre or a school, could be considered, Mr Vinci said.
The holding could be reworked as a luxury home too.
Alternatively, the historic building could form the centrepiece of a boutique medium density residential complex.
Next door, at the north west corner of Rathdowne and Queensberry streets, Piccolo in 2009 developed the four storey Garden House, with 49 luxury dwellings (story continues below).
Last June meanwhile, we reported Bensons Property Group snapped up a 1597 sqm parcel in the suburb, 482-492 Drummond St – for c$18m.
A block west of Rathdowne, high end apartments are earmarked for that parcel as well.
Coincidentally, Mr Vinci and Mr Carbone sold that property too.
Centre of everything
Also in the heart of Carlton, 97-105 Rathdowne Street is two blocks from the Lygon St retail strip.
“Truly city fringe, the property is located a few minutes walk to the Melbourne CBD, University of Melbourne, Royal Melbourne Institute of Technology and St Vincent’s Hospital,” Mr Vinci said.
“The potential for this property is limitless, with mixed-use zoning allowing for a variety of commercial ventures,” according to the executive.
“With ample parking and rear access, the practicalities of running a business or hosting guests are taken care of and with the CBD, restaurants and public transport close, the convenience of this location cannot be overstated,” he added.
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