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Investment Highlights

  • CBD landholding within the Capital City Zone
  • Existing retail and residential tenants on short-term leases
  • Permit approved for high-rise development (32 levels + ground floor)
  • Positioned along Elizabeth Street’s established retail corridor

Executive Summary

449–451 Elizabeth Street, Melbourne VIC 3000 is offered for sale individually and comprises a CBD development site with existing income. The property is located within a Capital City Zone and forms part of an approved high-rise development scheme. The site includes existing buildings with retail and residential holding income on short-term leases. It benefits from a prominent Elizabeth Street position and approved planning for a multi-level development, allowing future redevelopment, repositioning, or continued income holding.

Property Facts

Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,401 SF
Building Class
C
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.29
Lot Size
0.06 AC
Frontage
29’ on Elizabeth Street

Amenities

  • Air Conditioning

Nearby Major Retailers

Starbucks
Five Guys
Anytime Fitness
Crossfit
The Northern Trust Company
  • Listing ID: 40310935

  • Date on Market: 4/27/2026

  • Last Updated:

  • Address: 449-451 Elizabeth St, Melbourne, VIC 3000

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