609 Gilbert Road 1,302 SF Retail Building Preston, VIC 3072 $489,906 ($376.15/SF)

609 Gilbert Road in Preston represents an outstanding opportunity for retail, office, or redevelopment purposes in one of Melbourne’s most established and highly connected precincts. Situated along a prominent retail corridor near the intersections of High Street and Regent Street, this city-fringe freehold benefits from strong exposure, consistent foot traffic, and easy access to public transport, with a tram stop just steps away and Regent Railway Station within 1 km.
The property occupies 200 square meters of land with rear laneway access and on-site parking. Its existing building spans approximately 121 square meters, offering immediate functionality for owner-occupiers or investors. The Comprehensive Development Zone encourages flexibility for various uses and provides excellent scope for future enhancement or redevelopment, subject to council approval.
With the property being offered to the market for the first time in nearly five decades, it delivers undeniable long-term potential in a location supported by diverse demographics, thriving residential catchments, and a multitude of dining and retail operators. Whether your strategy is to hold, occupy, or transform, this asset aligns with the continued growth story of Preston’s commercial landscape.