Dustin Martin begins selling his commercial portfolio, could net 15m from two Abbotsford properties

Dustin Martin sells art work

Former Richmond Football Club great Dustin Martin is preparing to sell off a series of Abbotsford commercial properties.

The three-time premiership winner and Norm Smith medallist, who also won the 2017 Brownlow, has an extensive property portfolio amassed with talent management boss Ralph Carr — the former husband of Tina Arena.

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Jones Real Estate’s managing director Paul Jones sold many of the properties, mostly in Richmond and Abbotsford, to Dusty and Carr

Next week his firm will list properties at 367 and 407 Victoria St, Abbotsford, for sale with expectations it could earn as much as $15m.

It could mean a serious post-football payday for the ex-Richmond star that has recently become the subject of rumours about a possible AFL return with the Gold Coast Suns.

367 Victoria street Abbotsford is expected to hit the market next week. Picture: David Crosling

Records show Martin started his collection on the street with No. 367, known as Victoria House, which he paid $3m for in 2019. He subsequently splashed $1.6m on No. 407 in 2020, and a further $3.1m for two neighbouring sites — with his Richmond-based manager Ralph Carr involved in the purchases.

Jones Real Estate’s Luke Peric will also work on the sale and while he would not discuss the vendor’s identity, said the reason for the sale was they had “received significant interest from investors and developers for prime inner-city commercial assets”.

The properties come with holding income thanks to tenants in place, but Mr Peric said also offered significant value as they could be developed in the future.

401- 407 Victoria Street, Abbotsford is another of the properties that Martin and Carr are selling. Picture: David Crosling

Major assets in the area are in the process of getting an upgrade, with Victoria Gardens currently being overhauled by development giant Salta Properties.

Mr Peric said the Victoria St properties would suit high-net worth buyers looking for “land banking opportunities” in the inner city with development potential.

“And it’s only a matter of time before Abbotsford starts to see a bit more growth, and I think it has massive room to grow,” he said.

Martin also owns multiple commercial buildings on nearby Butler St.

Dustin Martin owns a number of commercial properties around Melbourne. (Photo by Dylan Burns/AFL Photos via Getty Images)

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