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466-474 Smith St - Trilby Development 1,323 - 2,378 SF Condo Units in Collingwood, VIC 3066
Investment Highlights
- Mixed-use building comprising a multifamily residential component above ground-floor commercial accommodation.
- Tram services available along Smith Street
- Rail access available via nearby stations including Victoria Park Railway Station
Executive Summary
466-474 Smith Street is a mixed-use commercial property located along the Smith Street corridor in Collingwood, within the City of Yarra local government area. The property forms part of the Trilby development, a multi-storey building comprising residential apartments with ground-floor commercial accommodation. The site occupies a prominent position on Smith Street, an established inner-north commercial strip characterised by retail, hospitality, residential and commercial uses. The ground floor is configured to accommodate commercial uses including office, medical/consulting and retail (STCA), supporting active street-level engagement. The property benefits from direct frontage to Smith Street and access to public transport services operating along the corridor, including tram services on Smith Street and rail services available from nearby stations such as Victoria Park Railway Station.
Property Facts
| Total Building Size | 191,038 SF | Building Class | B |
| Property Type | Multifamily | Floors | 9 |
| Property Subtype | Apartment | Typical Floor Size | 21,226 SF |
| Total Building Size | 191,038 SF |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 9 |
| Typical Floor Size | 21,226 SF |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Kitchen
- Hardwood Floors
- Carpet
Site Amenities
- Fitness Center
- Grill
- Roof Terrace
- Lounge
2 Units Available
| Unit Size | 1,323 SF | Sale Type | Investment or Owner User |
| Condo Use | Office/Retail |
| Unit Size | 1,323 SF |
| Condo Use | Office/Retail |
| Sale Type | Investment or Owner User |
Description
This property is a ground floor commercial unit within the Trilby Development on Smith Street, Fitzroy. It comprises approximately 123 sqm of internal area and includes a premium fitout previously used for medical purposes. The property offers secure car parking and access to shared rooftop amenities. It is located near the intersection of Smith Street and Alexandra Parade, providing connectivity to the CBD, Eastern Freeway, and Citylink. The surrounding area includes retail, dining, and residential developments, with the Fitzroy Gasworks redevelopment nearby.
Sale Notes
This modern ground floor commercial premises offers a rare opportunity to secure a premium medical, retail, or office space in the heart of Fitzroy’s vibrant Smith Street precinct. Located within the prestigious Trilby Development, which comprises 106 apartments across eight levels, the property spans approximately 123 sqm and is presented with an exceptional fitout valued at approximately $200,000. Previously operating as an osteopathy and physiotherapy practice, the space is now available with vacant possession, providing immediate flexibility for owner-occupiers or investors.
The property features high-profile Smith Street frontage, exposed high ceilings, and secure on-title car parking. Additional amenities include access to a rooftop BBQ and entertainment area offering panoramic views of Melbourne. Its flexible zoning allows for medical, retail, or office use (STCA), making it suitable for a wide range of businesses.
Positioned near the corner of Smith Street and Alexandra Parade, the property benefits from direct tram access to the CBD and northern suburbs, as well as excellent connectivity to the Eastern Freeway and Citylink. The surrounding area is a thriving hub of retail, dining, and residential developments, with the nearby Fitzroy Gasworks redevelopment set to deliver approximately 1,200 new apartments, a senior high school, sports facilities, and expansive public spaces. This combination of location, exposure, and future growth potential makes this an outstanding acquisition in one of Melbourne’s most dynamic inner-city markets.
| Unit Size | 2,378 SF | NOI | $83,385.14 |
| Condo Use | Office | No. Parking Spaces | 1 |
| Sale Type | Investment |
| Unit Size | 2,378 SF |
| Condo Use | Office |
| Sale Type | Investment |
| NOI | $83,385.14 |
| No. Parking Spaces | 1 |
Description
474 Smith Street is a ground floor strata-titled office located within the Trilby Apartments development in Collingwood. The property comprises approximately 221 sqm of internal area and includes one secure car space. The property is fully fitted to a high commercial standard and includes a disabled lift. It is situated near the intersection of Smith Street and Alexandra Parade, providing connectivity to the CBD, Eastern Freeway, and CityLink.
Sale Notes
474 Smith Street presents an exceptional investment opportunity in one of Melbourne’s most dynamic inner-city precincts. This modern, strata-titled ground floor office space spans approximately 221 sqm and is securely leased to the Commonwealth Government of Australia, offering investors a highly reliable income stream. The property is fully fitted to premium commercial standards, with an estimated fitout value of approximately $500,000, including a disabled lift, ensuring long-term functionality and compliance.
The current lease commenced on 26 October 2021 and runs until 25 October 2027, with a three-year option, providing strong income security. The property generates a gross annual rent of $118,465 plus GST and includes one secure on-title car space.
Located within the prestigious Trilby Apartments development, the property enjoys prominent Smith Street frontage and excellent exposure. Positioned near Alexandra Parade, it offers direct tram access to the CBD and northern suburbs, as well as convenient connectivity to the Eastern Freeway and CityLink. The surrounding area is a vibrant mix of residential, commercial, and retail activity, further enhanced by the nearby Fitzroy Gasworks redevelopment, which will deliver approximately 1,200 apartments, a senior high school, sports facilities, and expansive public spaces.
With a blue-chip government tenant, premium fitout, and strong growth prospects in a thriving location, this property represents a secure and compelling investment opportunity.
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466-474 Smith St - Trilby Development
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