197 Peel Street,
North Melbourne, VIC 3051
Offices
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Map of 197 Peel Street
Versatile Prize with Mixed Use Possibilities
Mere metres from some of Melbourne's most iconic attractions, this truly unique inner city prospect presents an array of options to reside and enjoy, capitalise on thriving rents, or make use of preferential zoning and create a first-class business base.
Originally built c1890, a sweeping two-storey interior sees thoughtful updates deliver contemporary ease and comfort, with exquisite ceiling roses, leadlight windows, and Baltic pine floorboards serving to retain the home's timeless character. Two generous bedrooms headline a flowing floor plan, accompanied by a smart upstairs bathroom and ground-floor powder room. Cleverly configured, several impressive living areas provide ever-desired flexibility, with a substantial front study, lounge, and upper retreat doubling as perfect work zones. A broad sunroom and western balcony afford views of city towers and treetops respectively, while a sizeable courtyard offers direct laneway access for seamless entertaining.
A short tram or bicycle ride from the city centre, it's an easy walk to leading schools and universities (zoned to University High), Melbourne's major hospitals, and the under-construction Parkville Station (2025), along with Errol Street's renowned restaurants and nightlife, the famed Queen Victoria Market, and blissful Flagstaff Gardens.
Current commercial lease in place until 25/5/2024
Rental Return $41,776.63pa*
Further term - 3 years
Originally built c1890, a sweeping two-storey interior sees thoughtful updates deliver contemporary ease and comfort, with exquisite ceiling roses, leadlight windows, and Baltic pine floorboards serving to retain the home's timeless character. Two generous bedrooms headline a flowing floor plan, accompanied by a smart upstairs bathroom and ground-floor powder room. Cleverly configured, several impressive living areas provide ever-desired flexibility, with a substantial front study, lounge, and upper retreat doubling as perfect work zones. A broad sunroom and western balcony afford views of city towers and treetops respectively, while a sizeable courtyard offers direct laneway access for seamless entertaining.
A short tram or bicycle ride from the city centre, it's an easy walk to leading schools and universities (zoned to University High), Melbourne's major hospitals, and the under-construction Parkville Station (2025), along with Errol Street's renowned restaurants and nightlife, the famed Queen Victoria Market, and blissful Flagstaff Gardens.
Current commercial lease in place until 25/5/2024
Rental Return $41,776.63pa*
Further term - 3 years
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North Melbourne, 3051 demographic data
The median household income for North Melbourne is $1,717, 10% lower than Greater Melbourne's household income of $1,901. North Melbourne has a younger age profile compared to the rest of Greater Melbourne (median age 31 vs 37). Property ownership data shows 57% of property owners in North Melbourne have a mortgage.
14,953
Population
$1,717 per week
Median household income
31 years
Median age
Renters
Most residents
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Most households
197 Peel Street
North Melbourne, VIC 3051
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