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
