142 Wellington ParadeEast Melbourne VIC 3002
Property Details for 142 Wellington Pde, East Melbourne
Last Listing description (July 2015)
GormanKelly is pleased to offer 132-142 Wellington Parade, East Melbourne for sale by Expressions of Interest closing Wednesday 13th May at 3pm.
The property offers a prime and unbeatable opportunity to secure a corner iconic East Melbourne freehold located moments from the Melbourne CBD. The property is leased to a range of retail and office tenants with flexible lease terms in place making the property ripe for redevelopment or alternatively would provide a fantastic passive investment with major redevelopment upside.
The site occupies a corner site of 709 square metres with Commercial 1 Zoning and features rear access and parking and provides a substantial redevelopment opportunity (STCA).
The property currently returns $529,391pa plus outgoings & GST and is leased to quality longstanding tenants including 7-Eleven.
132-142 Wellington Parade is located on the north-eastern side of the Wellington Parade and Powlett Street intersection approximately 1km* east of the Melbourne CBD within the municipality of the Melbourne City Council.
The property occupies a fantastic high exposure location in an established inner city area surrounded by major hospitals and notable landmarks including; the former Mercy Hospital (now a luxury residential development), the Hilton Hotel and Fitzroy Gardens.
The Melbourne Cricket Ground is situated immediately opposite.
Further, there are also a number of high rise commercial and residential developments along Wellington Parade.
The property is situated opposite Jolimont Railway Station with tram services also operating on Wellington Parade and the property is a short commute into the Melbourne Central Business District. The property is also within close proximity to a number of major Melbourne Sporting venues including Rod Laver Arena, AAMI Park and Hisense Arena.
For further information please contact the exclusive selling agents David Minton 0422 987 749 or Robert Kelly 0418 655 242 from GormanKelly.
Property History for 142 Wellington Pde, East Melbourne, VIC 3002
Recent sales nearby
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0About East Melbourne 3002
The size of East Melbourne is approximately 1.9 square kilometres. There are 10 parks, covering nearly 46.0% of the total area. The population of East Melbourne in 2016 was 4964 people. By 2021 the population was 4896 showing a population decline of 1.4% in the area during that time. The predominant age group in East Melbourne is 30-39 years. Households in East Melbourne are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in East Melbourne work in a professional occupation.In 2021, 44.80% of the homes in East Melbourne were owner-occupied compared with 43.60% in 2016.
East Melbourne has 5,826 properties. Over the last 5 years, Houses in East Melbourne have seen a -15.67% decrease in median value, while Units have seen a -4.48% decrease. As at 31 August 2026:
- The median value for Houses in East Melbourne is $3,187,953 while the median value for Units is $741,658.
- Houses have a median rent of $1,200 while Units have a median rent of $695.
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