257 Macaulay Rd 3,014 SF Retail Building North Melbourne, VIC 3051 For Sale

257-259 Macaulay Road presents a rare and highly strategic redevelopment opportunity in the heart of the booming Arden Precinct, one of Melbourne’s most significant urban renewal areas. Occupying a 306 m² landholding with an existing building of approximately 280 m², this property offers exceptional potential for mixed-use, residential, or commercial development (STCA).
The site benefits from a discretionary building height allowance of up to 51 metres, providing scope for a substantial multi-level project. Its prime location within the Arden Precinct ensures strong future growth, supported by major infrastructure investment, including the new Arden Station as part of the Metro Tunnel project.
Alternatively, the existing improvements offer an opportunity for an owner-occupier to establish a presence in a rapidly evolving precinct, with excellent connectivity to Melbourne CBD, CityLink, and key transport routes. This is a unique chance to secure a property with both immediate utility and long-term development upside in one of Melbourne’s most dynamic growth corridors.