87-105 Racecourse RoadNorth Melbourne VIC 3051
Property Details for 87-105 Racecourse Rd, North Melbourne
Last Listing description (September 2022)
'The Village North Melbourne', located at 68-102 & 103 Alfred Street & 87-105 Racecourse Road, North Melbourne is an exceptional opportunity to secure one of the largest permit approved development sites in inner city Melbourne.
The property can be described as:
+Prodigious 13,172sqm* landholding across three (3) title allotments, with multiple frontages totalling 233m* to Racecourse Road, Alfred Street and Plessey Lane.
+Partially vacant land (87-105 Racecourse Road) with existing multi-level improvements (68-102 Alfred Street) comprising a multi-level office/warehousing building.
+Highly flexible Commercial 1 Zone & Mixed Use Zones with favourable height allowances with strong height precedence to offer outstanding future development scope.
+Multiple planning approvals in place for a multi-staged major mixed-use project comprising 584 apartments, 150 serviced apartments and 9,248sqm* of retail/commercial, totalling 54,677sqm* NSA/NLA.
+Current holding income of $406,800 p.a. Leased to Melbourne Pathology until June 2023.
+Gateway site benefitting from one of Melbourne's best connection points, with the Citylink entrance abutting connecting to Melbourne's CBD, south-east to the Mornington Peninsula, south to West Gate Freeway, and north to Melbourne Airport.
+Outstanding public transport accessibility with Flemington Bridge Train Station only 100m* away and a tram line along Racecourse Road proving direct Melbourne CBD access.
+Major employment hubs close by including the Royal Children's Hospital (900m*), along with the University of Melbourne and the Royal Melbourne Hospital also only a short distance.
For further information please contact the exclusive sales and marketing agents at CBRE & Stonebridge:
CBRE:
David Minty
+61 422 564 199
david.minty@cbre.com.au
Nathan Mufale
+61 421 224 354
nathan.mufale@cbre.com.au
JJ Heng
+61 411 059 116
jj.heng@cbre.com.au
Stonebridge Property Group:
Julian White
0422 764 137
jwhite@stonebridge.com.au
Chao Zhang
0411 625 068
czhang@stonebridge.com.au
Acting Under the Instruction from:
Advise Transact
*Approx.
Property History for 87-105 Racecourse Rd, North Melbourne, VIC 3051
- 26 May 2022Listed for Sale Contact Agent
Recent sales nearby
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About North Melbourne 3051
The size of North Melbourne is approximately 2.4 square kilometres. It has 12 parks covering nearly 4.7% of total area. The population of North Melbourne in 2016 was 14940 people. By 2021 the population was 14953 showing a population growth of 0.1% in the area during that time. The predominant age group in North Melbourne is 20-29 years. Households in North Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in North Melbourne work in a professional occupation.In 2021, 33.00% of the homes in North Melbourne were owner-occupied compared with 28.50% in 2016.
North Melbourne has 12,778 properties. Over the last 5 years, Houses in North Melbourne have seen a -8.72% decrease in median value, while Units have seen a -4.55% decrease. As at 30 April 2026:
- The median value for Houses in North Melbourne is $1,304,139 while the median value for Units is $515,667.
- Houses have a median rent of $750 while Units have a median rent of $600.
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