98 Munster Terrace,
North Melbourne, VIC 3051

EOI Closing Tuesday, 10 December at 5:00PM

A rarity on Melbourne’s adored inner-fringe, this unique combination of commercial space and two loft-style apartments offers a landmark chance to invest and attract several rental incomes, or employ imagination for residential or business uses.

With a brilliant main area and impressive mezzanine, a vast, ground-floor shopfront suits culinary, retail, and showroom pursuits, while opportunity exists to pair with two residences above in the creation of an office/business space truly unlike any other. Enjoying almost identical floor plans, effortlessly stylish, first and second-floor apartments occupy levels in their entirety, with warm timber and exposed concrete tones joining towering ceilings and all-day rays in affording atmospheres rich with airy refinement. Open living and dining areas and adjoining, scenic terraces neighbour first-rate kitchens, with extensive cabinetry joined by stainless-steel benches and upmarket appliances. With city skyscraper views, each home’s two substantial, robe-enhanced bedrooms sit either side of a chic bathroom, while other highlights include European laundries, timber floors, heating/cooling, and video intercoms.

With North Melbourne Recreation Centre, Arden Station (2025), and CityLink all just metres away, the Special Use-zoned building (SUZ7) sits a short stroll from energetic Errol Street, Royal Park’s blissful expanses, and trams accessing leading universities, major hospitals, Queen Victoria Market, and the bustling city centre.

Estimated Rental Returns:
Commercial Space : $40,000 p.a. (Approx.)
Unit 1 (Level 2): $725 pw/ $37,700 p.a. (Approx.)
Unit 2 (Level 3): $700pw/ $36,400 p.a. (Approx.)
Total Combined Rental Estimate: $114,100 p.a. (Approx.)

Apt 1/98 is on a fixed-term lease until 16/10/2024
Apt 2/98 is on a fixed-term lease until 30/08/2025

Arden St Precinct Plan - https://www.development.vic.gov.au/projects/arden?page=overview