189 Nelson Place 4,306 SF Retail Building Williamstown, VIC 3016 $2,125,328 ($493.62/SF)

189 Nelson Place represents a rare freehold opportunity in the heart of Williamstown’s highly sought-after waterfront precinct. Constructed in 1876 for the Bank of Australasia, this historic corner property offers exceptional architectural character paired with functional adaptability. The asset spans approximately 400 sqm of building area across two levels, complemented by an inviting courtyard space and significant frontage along both Nelson Place and Cole Street. Zoned Commercial 1 within DDO8, the property allows for a potential development of up to three storeys (STCA), creating strategic upside for investors and owner-occupiers alike. Offered with vacant possession, this property sets the stage for bespoke repositioning as retail, hospitality, office space, or residential conversions, subject to planning approvals.
Its prominent setting within an affordable waterfront lifestyle precinct further enhances opportunities for future capital appreciation. With potential projected rental income of approximately $150,000 per annum plus GST and outgoings, this landmark freehold combines historical charm with long-term growth prospects in a location that rarely sees such assets change hands.