329-341 Victoria Street Abbotsford VIC 3067

Stonebridge Property Group, in conjunction with Savills, is pleased to present for sale 329-341 Victoria Street, Abbotsford, a rare 1,318 sqm* island site in a premium city fringe location.

The site is zoned Commercial 1 and has permit approval for an 8-storey mixed-use development, featuring 64 apartments and ground-floor retail, a total NSA/NLA of 4,959 sqm.

The key highlights of the opportunity include:

- Flexible 1,318 sqm* Commercial 1 Zone landholding

- Rare island development site with four-street frontages in the trendy city fringe suburb of Abbotsford

- Permit approved for an 8-storey mixed-use building comprising 64 apartments and ground floor retail

- The current Design and Development Overlay (DDO22) provides discretionary planning controls allowing for up to 8 levels, with this height being the 'preferred maximum,' offering potential to exceed the existing approval (STCA)

- Alternative concept plan is also available for a modern office development

- Holding income from the existing lease to 'Abbots Yard' restaurant/bar

- Abbotsford is undergoing a major transformation, with prominent developers driving rejuvenation projects such as Salta's $900 million redevelopment of Victoria Gardens Shopping Centre and MODEL's Build-to-Rent developments at 286 Johnston Street and 35-45 Lithgow Street

- Located in the booming city fringe suburb of Abbotsford with current population of 9,926 and expected to grow 43.96% by 2046 (forecast.id 2025), driving demand for high-density developments

- Situated on bustling Victoria Street, only 60m* from key amenities like Woolworths, ALDI, Commonwealth Bank, and various retail and dining venues

- Excellent lifestyle amenity including the Yarra River and Yarra Bend Park at its doorstep, all within 2 km* of Melbourne CBD

- Exceptional connectivity with trams running directly along Victoria Street and North Richmond Train Station just 350m* away, providing direct access to Melbourne CBD

- Close to notable landmarks such as the Abbotsford Convent (1 km*), MCG (1.4 km*), and education facilities like Abbotsford Primary School (200 m*)

- Abbotsford is a wealthy locale with median weekly incomes 41% higher than the Victorian average (ABS 2021)

329-341 Victoria Street, Abbotsford is offered for sale via Expressions of Interest, closing Thursday 6th March 2025 at 2:00pm (AEDT). To obtain further information, or to arrange an inspection, please contact the exclusive selling agents:

Stonebridge Property Group:

Julian White
0422 764 137

Max Warren
0488 296 892

Chao Zhang
0411 625 068

Savills:

James Latos
0422 604 900

Julian Heatherich
0412 995 655

Benson Zhou
0458 488 888

Property Code: 1148