231 Kings Way, South Melbourne, VIC 3205 | Property Value & History | OnTheHouse
 
OFF MARKET

231 Kings Way
South Melbourne VIC 3205

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 4706m2
Improve this data
We do not have enough data to display the calculated estimate for this property.
Share
Save

Property Details for 231 Kings Way, South Melbourne

Building Type
Land
Land Size
4706m2
Local Government
Port Phillip
Lot/Plan
PC354996

Last Listing description (October 2023)

CBRE Melbourne Metropolitan Sales is pleased to exclusively present for your consideration 'New Domain South Melbourne' the largest CBD fringe development site offering brought to market in 2023. Offering absolute flexibility in land use & scale with established Officeworks on a triple net lease, this land rich opportunity of International scale is being offered to the market for the first time in over 27 years.

This extraordinary & rare offering can be summarised by the following key attributes:


+ 4,707sqm* South Melbourne gateway corner landholding right on the edge of the Melbourne's CBD within the highly popular 'Domain Precinct'

+ An 'island site' with four (4) frontages totalling 288m* to Kings Way, Bank Street and two (2) vehicle laneways allowing for multiple access and egress points, natural light & ventilation for future development

+ Securely leased to a high performing freestanding Officeworks, a blue-chip national ASX listed retailer (ASX:WES) returning $1,573,811 per annum (NNN)

+ 60m* Height Allowance Enabling A High Density Residential, Office, Hotel Or Retail Development Project (STCA)

+ Complete With Three (3) Premium Architectural Concept Packages Prepared By Award Winning Architectural Firm Fender Katsalidis (Australia 108, Eureka Tower & Saint Moritz)

+ Walking Distance To The New Anzac Train Station(300m*) part of the Melbourne Metro Tunnel project that will connect to Melbourne's CBD in one stop and Melbourne Airport, due for completion in 2025

+ An opportunity to join an internationally recognised precinct favoured by Tier 1 developers including Mirvac, Deague Group, Hines, Altis, Holder East, Fortis & premium motor vehicle occupants Mercedes Benz, BMW & Mini

+ One of Melbourne's most premium retail, food & lifestyle locations including the Clarendon Street & Domain Road Retail & Food Strips, South Melbourne Market, Crown Casino, DFO South Wharf, Royal Botanic Gardens, Albert Park Lake the home of the Grand Prix and Melbourne Sports & Aquatic Centre and walking distance to Melbourne's CBD

+ Adding to the popularity of this precinct are the prestigious secondary & tertiary educational offerings including Melbourne Grammar School, Wesley College, Melbourne Girls Grammar School, Mac Robertson Girls High School and Melbourne University

+ Unrivalled road & public transport networks including Kings Way providing connectivity to City Link, the Westgate Freeway, Monash Freeway, Queens Road with St Kilda Road nearby. Immediate tram access with Route 58 connecting to the CBD, Queen Victoria Market and Royal Melbourne Hospital

*Denotes approx.

For further information please contact the exclusively appointed CBRE sales and marketing agents noted below:

Nathan Mufale
+61 421 224 354
nathan.mufale@cbre.com

David Minty
+61 422 564 199
david.minty@cbre.com

CBRE Asian Services Desk:
Jing Jun (JJ) Heng ()
+61 411 059 116 ()
jj.heng@cbre.com ()
jheng1206 ()

Show More

Property History for 231 Kings Way, South Melbourne, VIC 3205

A timeline of how this property has performed in the market
Last Sold
$3,680,000
13 Mar 1996
  • 26 Apr 2023
    Listed for Sale Contact Agent
  • 13 Mar 1996
    Sold for $3,680,000
Commute Calculator

Recent sales nearby

See more recent sales nearby

Similar properties For Sale nearby

See more properties for sale nearby

Similar properties For Rent nearby

See more properties for rent nearby

About South Melbourne 3205

The size of South Melbourne is approximately 2.2 square kilometres. It has 15 parks covering nearly 3.3% of total area. The population of South Melbourne in 2016 was 10920 people. By 2021 the population was 11548 showing a population growth of 5.8% in the area during that time. The predominant age group in South Melbourne is 30-39 years. Households in South Melbourne are primarily childless couples and are likely to be repaying over $4000 per month on mortgage repayments. In general, people in South Melbourne work in a professional occupation.In 2021, 42.40% of the homes in South Melbourne were owner-occupied compared with 40.20% in 2016.

South Melbourne has 12,877 properties. Over the last 5 years, Houses in South Melbourne have seen a 10.10% increase in median value, while Units have seen a 5.96% increase. As at 31 January 2026:

  • The median value for Houses in South Melbourne is $1,777,710 while the median value for Units is $634,357.
  • Houses have a median rent of $725 while Units have a median rent of $650.
There are currently 38 properties listed for sale, and 27 properties listed for rent in South melbourne on OnTheHouse. According to Cotality's data, 486 properties were sold in the past 12 months in South melbourne.

South Melbourne Profile Page

Suburb Insights for South Melbourne 3205

Visit South Melbourne profile page
Market Insights
South Melbourne Trends for Houses
Median Value

N/A

-
View Trend
Median Growth

N/A

View Trend
Median Rent

N/A

-
View Trend
Rental Yield

N/A

-
View Trend
Median Value: The middle value of all properties across the geography based on the Automated Valuation Model.
Median Value over 1 year
South Melbourne Trends for Units
Median Value

N/A

-
View Trend
Median Growth

N/A

View Trend
Median Rent

N/A

-
View Trend
Rental Yield

N/A

-
View Trend
Median Value: The middle value of all properties across the geography based on the Automated Valuation Model.
Median Value over 1 year
Neighbourhood Insights
Age
Household
Occupancy
No data to show
Visit South Melbourne profile page
Cotality Copyright and Legal Disclaimers about Property Data

© Copyright 2026. RP Data Pty Ltd trading as Cotality (Cotality). All rights reserved. No reproduction, distribution, or transmission of the copyrighted materials is permitted. The information is deemed reliable but not guaranteed.

Disclaimer
The Cotality Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.

While Cotality uses commercially reasonable efforts to ensure the Cotality Data is current, Cotality does not warrant the accuracy, currency or completeness of the Cotality Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the Cotality Data.

This product uses cookies and other similar technologies to improve and customise your browsing experience, to tailor content and adverts, and for analytics and metrics regarding visitor usage on this product and other media. We may share cookie and analytics information with third parties for the purposes of advertising. By continuing to use our website, you consent to cookies being used. View our Privacy Policy here.

X

GETTING STARTED