OVERVIEW

PRIME CBD RETAIL FREEHOLD INVESTMENT POSITIONED IN THE HEART OF AUSTRALIA’S HIGHEST DENSITY RESIDENTIAL LOCATION

Cushman & Wakefield City Sales proudly present for sale a prime retail freehold situated in arguably Melbourne CBD’s busiest location.

423-425 Elizabeth Street, Melbourne comprises the following key attributes:

• Booming Melbourne CBD northern corridor position, a thriving 24/7 precinct with retail, commercial, education, student accommodation and residential developments.
• Strategic CBD landholding of 184sqm* with rear laneway access, pursuant to favourable Capital City 1 Zoning (CCZ1) permitting a variety future of uses.
• Double-fronted two-level retail freehold of 283sqm*, featuring significant street frontage of 8.13m* to Elizabeth Street, providing excellent visibility and exposure.
• 5+5 year lease to ‘Mixue Group’ – the world’s largest F&B chain, surpassing Starbucks and McDonald’s. Known for its delicious flavours, budget-friendly prices, and high-quality ingredients, Mixue is the go-to spot for tea and ice cream lovers, alike.
• Current estimated rental income of $428,490 + GST p.a. with 3.50% fixed annual rental increases.
• High foot traffic location, driven by synergies with RMIT, University of Melbourne, Queen Vic Market, Melbourne's Biomedical Precinct and the upcoming Metro Tunnel Project (opening late 2025).
• 2,470* passing pedestrians each day (Source: City of Melbourne), supporting strong tenant occupancy and future rental growth.
• Fully leased and recently renovated, a perfect set and forget retail investment, one of the best offerings to the market in the past 5 years.

*Approximate

For Sale via on-site Public Auction on Thursday 5 June 2025 at 12:30pm (AEST).

Please contact Cushman & Wakefield City Sales as the exclusive selling agent.

Leon Ma 马海翔

+ 61 417 070 725

Anthony Kirwan

+61 431 952 430

Daniel Wolman

+61 412 957 839

Oliver Hay

+61 419 528 540