CONTACT US
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Trophy Swan Street asset with significant development potential in evolving and dynamic Richmond precinct

Jess Freeman • 25/03/2024

550SwanStreetRichmondgroundshot
photo: 550 Swan Street, Richmond ground shot

Under Instructions from KordaMentha as Receivers and Managers Appointed, a highly versatile development, investment or land bank opportunity in one of Melbourne’s most vibrant and sought-after retail and lifestyle precincts.

550 Swan Street, Richmond offers a substantial two-level building brimming with character, boasting 2,758sqm* of Gross Floor Area (GFA) alongside convenient on-site parking. The property sits on a Commercial 1 zoned landholding, spanning 1,627sqm* and featuring an impressive 40m* of Swan Street frontage.

Exceptionally positioned within the ‘Parks Precinct’ of Swan Street, Richmond, 550 Swan Street presents an unparalleled investment or development prospect. Its large footprint on Swan Street, coupled with a sound two-level showroom and office building providing short-term income, underpins its strong property fundamentals.

Situated amidst lush greenery, including Ryan’s Reserve, Burnley Park, Burnley Golf Course, Golden Square Bicentennial Park, and the majestic Yarra River, any future development holds promise of unparalleled vistas and an enhanced lifestyle experience for residents and workers alike (STCA).

Moreover, the property's 40-metre north-facing frontage opens doors to exceptional northern views, offering an uninterrupted vista up leafy Bendigo Street towards Studley Park. This strategic location within the Richmond area, a dynamic and sought-after precinct, is home to some of Melbourne’s most highly regarded developments.

Notable mentions include Charter Hall’s nearby 12-level commercial development anchored by Australia Post and Home’s hugely successful integrated BTR and Retail development, ‘Richmond Traders’, comprising 368 apartments, a Coles, and 16 specialty stores.

The property's development potential is further accentuated by its highly flexible Commercial 1 zoning and its inclusion within the Swan Street Activity Centre, notably the Burnley Station Precinct.

Currently, it enjoys a robust short-term income profile, yielding $475,796*^ + GST per annum, with flexible lease arrangements tailored to suit owner-occupiers or developers seeking to activate the site in the short-term, presenting ample rental upside opportunities. Furthermore, there is potential for major redevelopment, subject to council approval, aligning with the trajectory of neighboring developments such as 480 Swan Street by Charter Hall.

The precinct's commercial viability is underscored by endorsements from major corporations, including Australia Post, Bunnings, and REA Group. Nestled within Richmond's esteemed 'Parks Precinct', the property enjoys a serene ambiance, surrounded by Burnley Park, Golden Square Bicentennial Park, Burnley Golf Course, and the majestic Yarra River. Its accessibility is unparalleled, with tram services traversing Swan and Church Streets, interconnected bicycle trails, and proximity to Burnley train station, offering unobstructed vistas towards the Yarra River.

The property is for sale through Daniel Wolman, Hamish Burgess, and Joe Kairouz of Cushman & Wakefield and Jesse Radisich, Josh Rutman, and Tim Carr of JLL.

Daniel Wolman of Cushman & Wakefield commented,

"550 Swan Street presents a unique opportunity for a diverse range of buyers, from investors and occupiers seeking a well exposed Richmond footprint to developers eyeing significant redevelopment potential. The versatility of this property ensures broad appeal within the market."

Jesse Radisich of JLL added,

"Richmond's commercial and lifestyle precinct is undergoing rapid evolution, attracting attention from major corporations and investors alike. The combination of strategic location, diverse amenities, and growth potential makes 550 Swan Street a compelling investment opportunity."

550 Swan Street, Richmond is For Sale by International Expressions of Interest closing Wednesday 24 April at 2 pm (AEST).


*Approximate
^ Gross

How can we help?

Get in touch with one of our professionals.

RECENT NEWS

D'Andra-Rao-card.jpg
Melbourne retail rebounds as Cushman & Wakefield strengthens retail leasing team

Melbourne’s retail landscape is making a strong comeback, with renewed confidence flowing through the sector as foot traffic, tenant demand, and new developments gain momentum.

Jess Freeman • 31/03/2025

CushWake-QLD-Investment-Sales-team.jpg
Cushman & Wakefield expands Investment Sales team with seven new appointments

Global real estate firm Cushman & Wakefield has strengthened its Investment Sales team with the appointment of seven new professionals across Australia, further reinforcing its presence in key markets.

Jess Freeman • 26/03/2025

78 Albert Rd 2.png
Premier Equine facility & luxury development opportunity hits the market

One of South East Queensland’s most prestigious equine properties, Grand Parkview Stud, is set to hit the market with Development Approval (DA) for a 12-lot luxury estate subdivision, paving the way for an exclusive, high-end acreage development catering to discerning buyers seeking a blend of luxury living and equestrian excellence.

Jess Freeman • 25/03/2025

6-12-Warley-Avenue-Cowes
Permit-approved coastal development opportunity hits the market in Cowes

A rare and highly sought-after development opportunity has emerged in one of Victoria’s most prestigious coastal destinations. The permit-approved site at 6-12 Warley Avenue, Cowes, offers developers the chance to deliver a luxury residential project with panoramic bay views in a region experiencing increasing demand for premium coastal living.

Jess Freeman • 14/03/2025

548-Clayton-Rd,Clayton-South-VIC.jpg
Major service centre hits the market in Clayton South

A major service centre in Melbourne’s southeast has hit the market in a timely fashion following the first interest rate cut since 2020.

Jess Freeman • 14/03/2025

With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
MORE OPTIONS
AGREE AND CLOSE
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS