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324 Victoria St 904 SF of Retail Space Available in North Melbourne, VIC 3051
Highlights
- Located within the Queen Victoria Market precinct and steps from Errol Street.
- Excellent connectivity via Victoria Street tram, North Melbourne Station, and the upcoming Parkville Metro Tunnel.
- Dual street frontages and favorable Mixed Use zoning with future development potential (STCA).
Space Availability (1)
Display Rental Rate as
- Space
- Size
- Term
- Rental Rate
- Rent Type
| Space | Size | Term | Rental Rate | Rent Type | ||
| Ground | 904 SF | Negotiable | Upon Request Upon Request Upon Request Upon Request | TBD |
Ground
The building spans approximately 190 m² across two levels on a 95 m² land parcel, providing a flexible layout for investors or owner-occupiers. Zoned Mixed Use, the property allows for future value-add potential (STCA) and is offered with a short-term lease in place. The surrounding area is a vibrant mix of retail, dining, and residential developments, supported by strong pedestrian traffic and proximity to Melbourne CBD, Royal Melbourne Hospital, and the University of Melbourne.
- Fully Built-Out as Standard Retail Space
- Central Air Conditioning
- High Ceilings
- Secure Storage
- Display Window
Rent Types
The rent amount and type that the tenant (lessee) will be responsible to pay to the landlord (lessor) throughout the lease term is negotiated prior to both parties signing a lease agreement. The rent type will vary depending upon the services provided. For example, triple net rents are typically lower than full service rents due to additional expenses the tenant is required to pay in addition to the base rent. Contact the listing broker for a full understanding of any associated costs or additional expenses for each rent type.
1. Full Service: A rental rate that includes normal building standard services as provided by the landlord within a base year rental.
2. Double Net (NN): Tenant pays for only two of the building expenses; the landlord and tenant determine the specific expenses prior to signing the lease agreement.
3. Triple Net (NNN): A lease in which the tenant is responsible for all expenses associated with their proportional share of occupancy of the building.
4. Modified Gross: Modified Gross is a general type of lease rate where typically the tenant will be responsible for their proportional share of one or more of the expenses. The landlord will pay the remaining expenses. See the below list of common Modified Gross rental rate structures: 4. Plus All Utilities: A type of Modified Gross Lease where the tenant is responsible for their proportional share of utilities in addition to the rent. 4. Plus Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of cleaning in addition to the rent. 4. Plus Electric: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical cost in addition to the rent. 4. Plus Electric & Cleaning: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the electrical and cleaning cost in addition to the rent. 4. Plus Utilities and Char: A type of Modified Gross Lease where the tenant is responsible for their proportional share of the utilities and cleaning cost in addition to the rent. 4. Industrial Gross: A type of Modified Gross lease where the tenant pays one or more of the expenses in addition to the rent. The landlord and tenant determine these prior to signing the lease agreement.
5. Tenant Electric: The landlord pays for all services and the tenant is responsible for their usage of lights and electrical outlets in the space they occupy.
6. Negotiable or Upon Request: Used when the leasing contact does not provide the rent or service type.
7. TBD: To be determined; used for buildings for which no rent or service type is known, commonly utilized when the buildings are not yet built.
Property Facts
| Total Space Available | 904 SF | Property Subtype | Storefront Retail/Residential |
| Property Type | Retail | Gross Leasable Area | 2,045 SF |
| Total Space Available | 904 SF |
| Property Type | Retail |
| Property Subtype | Storefront Retail/Residential |
| Gross Leasable Area | 2,045 SF |
About the Property
324 Victoria Street, North Melbourne is a two-level mixed-use property comprising a retail shop on the ground floor and a residential dwelling above. The site measures approximately 95 m² and is subject to a heritage overlay (HO3). It is located within the Melbourne local government area and is in close proximity to Queen Victoria Market, Errol Street retail precinct, and major institutions such as the University of Melbourne and Royal Melbourne Hospital. The property is accessible via Victoria Street tram services and is approximately 1 km from the future Parkville Metro Tunnel Station.
Nearby Major Retailers
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324 Victoria St
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