71-75 Gilbert RoadPreston VIC 3072
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 property has a land size of 860m2 and floor size of 2m2.This Property is currently listed for sale with Jellis Craig Northcote
Last Listing description (April 2026)
Unleash the Potential of Prestons Iconic Rivoli Theatre. Built originally in 1936, this architectural treasure is one of Prestons 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 Prestons 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 youre 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 buildings 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
-Three versatile ground-floor rooms, with kitchenette and toilet facilities with shower
-Rear courtyard
-Street access via roller door, ideal for loading deliveries, or functional reconfiguration
Elevated above the theatre sits a charming apartment, ideal for owner-occupiers, short-term rental, or use during future development. This residence features:
-Two spacious bedrooms, one with wardrobes
-Central bathroom with bathtub, walk-in-shower, vanity and toilet
-Expansive open-plan living area
-Well-appointed kitchen with stainless steel gas cooker and dishwasher
Property History for 71-75 Gilbert Rd, Preston, VIC 3072
- 14 Apr 2026Listed for Sale EOI $2,800,000 - $3,000,000
- 07 May 2025Listed for Sale Private Sale - Contact Agent
- 07 May 2025Listed for Rent - Price not available
Recent sales nearby
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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 21,622 properties. Over the last 5 years, Houses in Preston have seen a 8.24% increase in median value, while Units have seen a 11.16% increase. As at 31 March 2026:
- The median value for Houses in Preston is $1,228,630 while the median value for Units is $652,709.
- Houses have a median rent of $695 while Units have a median rent of $550.
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