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5 McKillop St - Excelsior 990 SF Retail Condo Unit in Melbourne, VIC 3000
Investment Highlights
- Iconic heritage building designed by Cedric H Ballantyne, built in 1939 and converted in 1994.
- Located in Melbourne’s CBD, steps from Little Collins Street, Bourke Street Mall, and public transport.
- Boutique complex with 41 apartments and two ground-floor retail units.
- Features include grand foyer, lift access, and secure intercom entry.
Executive Summary
The Excelsior Building at 390 Little Collins Street is a nine-storey heritage property originally constructed in 1939 and converted into 41 residential apartments and two retail units in 1994. The building is located in Melbourne’s central business district within the Capital City Zone 1 and is managed by an owners corporation. It is situated near major retail, hospitality, and transport amenities, including Bourke Street Mall and Melbourne Central Station.
Property Facts
| Total Building Size | 15,306 SF | Floors | 9 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 1,701 SF |
| Property Subtype | Apartment | Year Built | 1939 |
| Building Class | B | Lot Size | 0.11 AC |
| Total Building Size | 15,306 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 9 |
| Typical Floor Size | 1,701 SF |
| Year Built | 1939 |
| Lot Size | 0.11 AC |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Kitchen
Site Amenities
- Controlled Access
- Concierge
- Security System
- On-Site Retail
1 Unit Available
| Unit Size | 990 SF | Sale Type | Investment |
| Condo Use | Retail | NOI | $42,365.53 |
| Unit Size | 990 SF |
| Condo Use | Retail |
| Sale Type | Investment |
| NOI | $42,365.53 |
Description
5 McKillop Street is a retail property located in Melbourne’s central business district, near Little Collins Street. The building comprises approximately 92 square meters and is zoned Capital City – Schedule 1. The property is leased to True Thai Massage under a long-term lease, generating a gross rental of $77,250 per annum and an estimated net rental of $61,275 per annum plus GST. The site is situated within a high-density commercial and retail precinct with strong pedestrian activity and public transport access.
Sale Notes
5 McKillop Street presents an opportunity to secure a retail investment in the heart of Melbourne’s CBD, just steps from Little Collins Street. The property is leased to an established operator, True Thai Massage, under a long-term lease, providing consistent income and stability for investors. With a gross rental of $77,250 per annum and an estimated net rental of $61,275 per annum plus GST, this asset offers an attractive return profile.
Zoned Capital City – Schedule 1, the property benefits from flexible planning provisions and strong long-term potential. Its central location ensures excellent connectivity, surrounded by Melbourne’s premier retail, dining, and commercial destinations. This property is well-suited for investors seeking a low-maintenance CBD asset, including those managing Self Managed Super Funds.
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5 McKillop St - Excelsior
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