City Jeep showroom hits the market with $25m price tag, sparks investment interest amid Fishermens Bend plans
The City Jeep showroom is set to fetch more than $25m for the sale.
A major shake-up is expected at one of the inner city’s busiest intersections as the high-profile City Jeep showroom hits the market.
The 228-238 Normanby Rd, Southbank site at the intersection with Montague St, has placed it in the spotlight for an anticipated sale above $25m, drawing interest from investors and developers.
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The 3030sq m corner block just 1.5km from the Melbourne CBD has showcased renowned automotive brands like Jeep, Chrysler, and Dodge for many years.
Colliers Melbourne head of investment services Matt Stagg said the pending vacant possession presents a prime opportunity for growth beyond the site’s current position as a dual-level showroom and service centre appealing to premium vehicle retailers and national brands alike.
“The property allows for high-rise residential or commercial developments, subject to planning approvals,” Mr Stagg said.
The sale of the City Jeep showroom could lead to more investors taking interest in the area amid future development in Fishermans Bend
The showroom site has renowned automotive brands like Jeep, Chrysler, and Dodge.
“It stands as a unique offering, especially with the nearby Fishermans Bend urban renewal set to redefine Melbourne living by 2050, providing a planned parkland aspect to the north of the site.
“The site’s proximity to the Melbourne Convention and Exhibition Centre and the University of Melbourne (Fishermans Ben campus) makes it attractive for commercial and educational ventures.”
Prominent developers, in collaboration with state-backed urban renewal initiatives, are fast-tracking the nearby Fishermans Bend precinct into a vibrant community hub.
Inside the current Jeep Showroom – the current lease end in Februrary 2025.
Could the Jeep Showroom site be key to providing build to rent opportunities for homebuyers.
“With the support of developers like R.Corp and Greystar already eyeing the area, together with the support of the State Government, this will provide other local and international developers confidence to undertake further developments in the precinct.”
Mr Stagg said the sale of the City Jeep showroom provides a rare opportunity not just for national players but also international investors looking to make their mark.
Expressions of interest close on November 14.
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