1/487-497 Flinders LaneMelbourne VIC 3000
Property Details for 1/487-497 Flinders Lane, Melbourne
Last Listing description (October 2019)
Colliers International is please to present the opportunity to purchase Shops 1 & 2, 487-497 Flinders Lane with the following key attributes;
- Two large shops on a CBD corner with extensive street frontage onto Flinders Lane
- Surrounded by high-density residential and commercial developments including the newly refurbished Rialto, fully leased 567 Collins Street, Collins Tower and Cbus Propertys $1.25 billion development at 447 Collins Street
- Net Income of $171,894* per annum plus GST and Outgoings
- Future upside with potential to subdivide in to multiple tenancies (STCA)
- Surrounded by Melbourne's biggest tourist attractions including the Melbourne Aquarium, Southgate and Crown Casino Entertainment Precinct, this CBD retail asset has all the right attributes
- Close proximity to public transport including major train terminals at Southern Cross and Flinders Street Railway Stations, as well as tram services along Collins, Flinders and Spencer Streets
- Exceptional opportunity to acquire two retail shops in a rapidly growing pocket of the CBD
For Private Sale
To arrange an inspection or for more information please contact the Colliers International Melbourne City Sales team as the exclusive selling agents
*Approx
Property History for 1/487-497 Flinders Lane, Melbourne, VIC 3000
- 11 Oct 2019Listed for Sale Not Disclosed
- 19 Feb 2016Listed for Sale Not Disclosed
- 09 Jun 2015Listed for Sale $265,000 NEGOTIABLE
Recent sales nearby
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About Melbourne 3000
The size of Melbourne is approximately 2.7 square kilometres. It has 9 parks covering nearly 2.5% of total area. The population of Melbourne in 2016 was 47285 people. By 2021 the population was 54941 showing a population growth of 16.2% in the area during that time. The predominant age group in Melbourne is 20-29 years. Households in Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in Melbourne work in a professional occupation.In 2021, 25.80% of the homes in Melbourne were owner-occupied compared with 29.00% in 2016.
Melbourne has 64,270 properties. Over the last 5 years, Houses in Melbourne have seen a -6.38% decrease in median value, while Units have seen a -4.97% decrease. As at 31 March 2026:
- The median value for Houses in Melbourne is $1,346,319 while the median value for Units is $439,159.
- Houses have a median rent of $700 while Units have a median rent of $672.
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