GormanKelly is pleased to offer 551 Victoria Street, Abbotsford for sale by auction.

This rare offering provides investors and/or developers with the opportunity to secure a well-leased retail property located in a prime city-fringe location within a fast-emerging retail/commercial and residential development area.

We believe the most outstanding aspects of this property include:

- Great location close to Victoria Gardens Shopping Precinct;
- Prime city fringe location;
- Two Street frontages;
- Prominent corner position;
- Offers excellent position, income and potential for improvement;
- Ground Floor Retail leased to Delicious Traditional returning $21,319.92 per annum plus outgoings and GST;
- First Floor Office leased to Jesus Rodriguez returning $18,516.00 per annum plus outgoings and GST;
- Advertising Board/Banner leaded to iOM Pty Ltd returning $2,650.00 per annum plus GST;
- Building Area 125m² approx.;
- Land Area 205m² approx.;
- Total Income $42,485.92 p.a.

551 Victoria Street, Abbotsford is located on the northern side of Victoria Street on the corner of Bond Street with the closest major intersection being that of Victoria Street and Burnley Street.

The property is located approximately 4km* east of the Melbourne CBD within the municipality of the Yarra City Council. Victoria Street is a major arterial road that runs from North Melbourne through to Hawthorn, where it then becomes Barkers Road.

The immediate area surrounding the subject property is recognised as a region for fast-emerging development with respect to commercial, retail and residential. The area has undergone significant change over the last few years with the opening of the Victoria Gardens; the area’s largest retail shopping complex, strongly supported by brands such as Kmart, Ikea, Hoyts, Coles, Dick Smith Electronics, to name a few. Substantial office and residential developments have since followed suite, underpinning increased property values within the area.

Furthermore the property is in close proximity to the following facilities:
- Trams at the doorstep in Victoria Street with North Richmond Train Station only 1 kilometre away.
- Only a 5 minute walk to Victoria Gardens Shopping Complex,
- Easy access to the Eastern Freeway (M3);
- Close to recreational facilities such as Yarra Bend Park, Dickinson Reserve, Studley Park Par Golf Course with Capital City Trail and Yarra River just 500 metres.