GROUND FLOOR/199 Victoria Street, West Melbourne, VIC 3003 sold on 10 September 2026 | OnTheHouse
SOLD
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Sold on 10 Sep 2026 - Price Unavailable

GROUND FLOOR/199 Victoria Street
West Melbourne VIC 3003

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 142m2
Sold By
agent headshot
FRANK DOWLING RENTAL PTY LTD
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Property Details for Ground Floor/199 Victoria St, West Melbourne

Building Type
Commercial
Land Size
142m2
Local Government
Melbourne
Lot/Plan
1/TP750970

Last Listing description (September 2026)

• Historic Victorian freehold with rear access, a downstairs shopfront, and second-storey residence
• Currently leased for a total of $56,000 per annum, with a shopfront option for lease extension until 2032
• Right by Queen Victoria Market and Flagstaff Gardens, steps to universities, hospitals, trains, trams & the CBD


Comprising both a residence and shopfront, benefiting from rear access, and retaining the rich character it's held for close to 150 years, this mid-Victorian prize stands as a Melbourne staple and rare chance to capture a piece of its history.

Accompanied by Mixed Use zoning (MUZ), two existing tenancies for instant passive incomes, and the option to transform down the line, the freehold proves one of the city's most exciting investment, business, and residential opportunities. With the ground-floor shopfront currently leased to a thriving hospitality business, the rear-accessed upper storey hosts a warm, welcoming home rented to a long-term tenant. An oversized, sky-lit dressing room serves an expansive main bedroom, while other highlights include a second bedroom doubling as a study, living/dining room, bathroom/laundry, kitchen with gas cooking, and entertainer's open-air terrace taking in unforgettable views of nearby skyscrapers.

A short stroll reveals RMIT, the University of Melbourne, Parkville's hospital precinct, tranquil Flagstaff Gardens, numerous trams, trains on multiple lines, the buzz of Errol Street and surrounds, and Queen Victoria Market placed a handful of doors away, along with the shopping, culinary, arts, afterhours, and entertainment scenes the CBD is famous for.

For more information, please contact:

Joel Campbell
0438 838 014

Anthony Elliott
0433 171 740

Property History for Ground Floor/199 Victoria St, West Melbourne, VIC 3003

A timeline of how this property has performed in the market
Last Sold
10 Sep 2026
Listed for Rent
$441/w
08 Feb 2018
  • 10 Sep 2026
    Sold
  • 11 Aug 2026
    Listed for Sale EOI $900,000 - $990,000
  • 12 Nov 2022
    Transferred
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About West Melbourne 3003

The size of West Melbourne is approximately 6.7 square kilometres. There are 14 parks, covering nearly 2.4% of the total area. The population of West Melbourne in 2016 was 5515 people. By 2021 the population was 8025 showing a population growth of 45.5% in the area during that time. The predominant age group in West Melbourne is 20-29 years. Households in West Melbourne are primarily childless couples and are likely to be repaying $1800 - $2399 per month on mortgage repayments. In general, people in West Melbourne work in a professional occupation.In 2021, 32.40% of the homes in West Melbourne were owner-occupied compared with 34.50% in 2016.

West Melbourne has 8,279 properties. Over the last 5 years, Houses in West Melbourne have seen a -13.58% decrease in median value, while Units have seen a 0.79% increase. As at 31 August 2026:

  • The median value for Houses in West Melbourne is $1,238,625 while the median value for Units is $521,524.
  • Houses have a median rent of $748 while Units have a median rent of $643.
There are currently 38 properties listed for sale, and 34 properties listed for rent in West melbourne on OnTheHouse. According to Cotality's data, 413 properties were sold in the past 12 months in West melbourne.

Suburb Insights for West Melbourne 3003

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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.