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138-140 Argus St 1,883 SF Flex Condo Unit in Cheltenham, VIC 3192
Investment Highlights
- Architecturally designed industrial estate with a modern, corporate-style presentation.
- Close proximity to key commercial hubs, retail amenities, and transport networks.
- High-quality finishes and contemporary design appeal suitable for long-term value.
- Prominent Bayside location offering excellent connectivity to major arterial roads.
- Secure, well-maintained complex featuring private driveways and dedicated parking.
Executive Summary
138–140 Argus Street, Cheltenham, forms part of a modern industrial estate within the highly sought-after Bayside precinct. The development combines architectural design with functional versatility, offering a premium standard of finishes rarely seen in traditional warehouse projects. Featuring contemporary facades, glass-fronted profiles, and secure access, the complex provides an attractive environment for businesses operating across diverse sectors. Positioned with direct street access and excellent connectivity to major arterials, the estate benefits from its proximity to key transport routes, retail amenity, and established commercial infrastructure within the Bayside region, making it a prime location.
1 Unit Available
Unit 1
| Unit Size | 1,883 SF | No. Parking Spaces | 2 |
| Condo Use | Flex | APN/Parcel ID | 1\PS844086 |
| Sale Type | Investment |
| Unit Size | 1,883 SF |
| Condo Use | Flex |
| Sale Type | Investment |
| No. Parking Spaces | 2 |
| APN/Parcel ID | 1\PS844086 |
Description
Unit 1 at 138–140 Argus Street, Cheltenham, comprises a total building area of approximately 175 sqm*, including a 72 sqm* first-floor office and 103 sqm* of ground floor showroom/warehouse space. The property features container-height roller door access directly from Argus Street, 8 m* high rear atrium storage areas, and a 3.9 m* ground floor clearance to the underside of the office mezzanine. Additional inclusions are two on-title car spaces, a private driveway, and modern security features such as an electronic keyless locking mechanism.
Sale Notes
Unit 1 at 138–140 Argus Street, Cheltenham, offers an outstanding investment opportunity in a tightly held Bayside industrial location. The property comprises a total building area of approximately 175 sqm*, incorporating 72 sqm* of first-floor office and 103 sqm* of ground-floor showroom and warehouse space, creating a functional hybrid workspace designed for modern business requirements.
The asset is currently leased to 3.14 Degree Pty Ltd on a secure 3-year term expiring in February 2027, with a further 3-year option and annual 4% rental increases, providing an annual income of $42,182 (as of February 2026). Key features include an 8 m* rear atrium for additional storage capacity, a 3.9 m* clearance to the underside of the office mezzanine, and direct container-height roller door access from Argus Street.
Further enhancing the property are two on-title car spaces, a private driveway, and an electronic keyless entry system, complemented by high-quality finishes and architectural attention to detail. Positioned within the sought-after Bayside precinct, this is an excellent opportunity for investors seeking a well-leased, modern office/warehouse asset benefiting from strong fundamentals and long-term rental growth.
Entrance
8m High Clearance Warehouse Space
Stairs to Mezzanine Office
Office Area
Kitchen Area
Property Facts
| Total Building Size | 8,439 SF | Floors | 1 |
| Property Type | Industrial (Condo) | Typical Floor Size | 8,439 SF |
| Property Subtype | Warehouse | Lot Size | 0.47 AC |
| Building Class | B |
| Total Building Size | 8,439 SF |
| Property Type | Industrial (Condo) |
| Property Subtype | Warehouse |
| Building Class | B |
| Floors | 1 |
| Typical Floor Size | 8,439 SF |
| Lot Size | 0.47 AC |
Amenities
- Signage
- Automatic Blinds
- Storage Space
Presented by
138-140 Argus St
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