Property Details for 254 Victoria St, Richmond
Last Listing description (April 2024)
OUTSTANDING FREEHOLD INVESTMENT OFFERING IN A PRIME LOCATION
Introducing a unique opportunity to acquire a commanding retail property situated in the thriving heart of Victoria Street, this impeccable double-storey freehold building stands as a testament to premier investment potential. Strategically positioned amidst a bustling commercial hub, the property offers an array of coveted advantages for discerning investors seeking long-term growth prospects.
The property is underpinned by its high-profile location in one of Australia's most sought-after destinations, surrounded by a residential catchment that supports commercial, retail, and hospitality enterprises, with long-term development potential! Enjoy easy access to major arterial roads, Citylink, rail, and tram services along Victoria Street, and the proximity to North Richmond Train Station. Just a stone's throw away is the highly sought-after city fringe location, Australia Post's new $460 million National Support Centre, scheduled for completion in 2024*. The area is experiencing a surge in development, with Gurner's upcoming $800 million mixed-use project (500 apartments plus a retail village) nearby, making it an ideal investment for future growth.
Key Property Highlights:
Freestanding commercial building area: 608m2 approx.
Land Area: 304m2 approx.
Zoned Commercial 1 - C1Z
10m frontage to Victoria Street
Rear access through the laneway, perfect for retail loading
Exceptional local amenity
Currently leased to a well-established Asian grocery store
Increasingly rare and highly sought-after versatile open-plan internal accommodation over two levels.
Prime city fringe location within a buzzing retail strip that houses numerous restaurants, fresh food offerings, and service-related businesses
Don't miss out on securing this promising investment in a rapidly evolving neighbourhood that promises both immediate returns and future growth.
Property History for 254 Victoria St, Richmond, VIC 3121
- 24 Oct 2023Listed for Sale Contact Agents
- 01 Nov 2018Listed for Rent Lease: $60,000 per Year
- 23 Apr 2018Listed for Rent Lease: $60,000 per Year
Recent sales nearby
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About Richmond 3121
The size of Richmond is approximately 4.4 square kilometres. It has 20 parks covering nearly 4.9% of total area. The population of Richmond in 2016 was 27705 people. By 2021 the population was 28587 showing a population growth of 3.2% in the area during that time. The predominant age group in Richmond is 20-29 years. Households in Richmond are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in Richmond work in a professional occupation.In 2021, 43.00% of the homes in Richmond were owner-occupied compared with 40.80% in 2016.
Richmond has 22,711 properties. Over the last 5 years, Houses in Richmond have seen a -0.76% decrease in median value, while Units have seen a -0.86% decrease. As at 30 April 2026:
- The median value for Houses in Richmond is $1,435,356 while the median value for Units is $636,503.
- Houses have a median rent of $875 while Units have a median rent of $600.
Suburb Insights for Richmond 3121
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