71-75 Gilbert Road, Preston, VIC 3072 | House for sale | OnTheHouse
 
FOR SALE
EOI $2,800,000 - $3,000,000

71-75 Gilbert Road
Preston VIC 3072

Bedrooms: 9
Bathrooms: 2
Car spaces: 6
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An Icon Awaits Its Encore

Unleash the Potential of Preston’s Iconic Rivoli Theatre. Built originally in 1936, this architectural treasure is one of Preston’s most storied landmarks, rich in history and alive with possibility. Embrace a once-in-a-generation opportunity to secure a rare fusion of heritage, scale and transformative potential.
This grand old dame offers a substantial footprint in the heart of Preston’s thriving cultural precinct, just steps from the vibrant energy of Miller Village, renowned for boutique shopping, trendy cafes, gelato bars and direct tram access to the city. This site is also zoned for Bell Primary and Coburg High Schools.
Occupying a commanding 860sqm (approx.) corner allotment at Gilbert and Oakover Roads, with over 25 metres of frontage across four titles.
Located in a General Residential Zone – Schedule 2 (GRZ2) and free from heritage overlay, this storied gem offers a compelling canvas with exceptional flexibility. Whether you’re a developer, investor or creative visionary, this is your chance to raise the curtain on its next chapter, be it a boutique residential development (STCA), contemporary gallery, live music or events venue, cinema, or a distinctive retail or hospitality destination that honours the building’s rich past while embracing a dynamic future.
Retaining its authentic architectural fabric, the Rivoli offers a rich and adaptable interior layout. Key features include:
-Original timber floors throughout
-Mezzanine level and projector room
-Grand foyer with period character
-Authentic stage
-Spacious storage room
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Property Details for 71-75 Gilbert Rd, Preston

71-75 Gilbert Rd, Preston is a 9 bedroom, 2 bathroom House with 6 parking spaces. The place is currently for sale with Jellis Craig Northcote.

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About Preston 3072

The size of Preston is approximately 11.5 square kilometres. It has 30 parks covering nearly 4.7% of total area. The population of Preston in 2016 was 32851 people. By 2021 the population was 33790 showing a population growth of 2.9% in the area during that time. The predominant age group in Preston is 30-39 years. Households in Preston are primarily couples with children and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Preston work in a professional occupation.In 2021, 57.30% of the homes in Preston were owner-occupied compared with 56.70% in 2016.

Preston has 21,601 properties. Over the last 5 years, Houses in Preston have seen a 15.62% increase in median value, while Units have seen a 12.69% increase. As at 30 November 2025:

  • The median value for Houses in Preston is $1,220,339 while the median value for Units is $635,220.
  • Houses have a median rent of $620 while Units have a median rent of $550.
There are currently 82 properties listed for sale, and 40 properties listed for rent in Preston on OnTheHouse. According to Cotality's data, 904 properties were sold in the past 12 months in Preston.

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Luke Brizzi
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Tommasina Brizzi
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Jellis Craig Northcote
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