01 POINT OF INTEREST
77-81 AND 83-87 MARK STREET, NORTH MELBOURNE.
BUILDING AREA 5,198 sqm*
LAND AREA
ZONING
TENANCY
sqm*
Mixed-Use Zoning (MUZ)
77-81 Mark Street: Leased to Garden State Towing Pty Ltd
83-87: Offered with vacant possession
METHOD OF SALE Private Sale
SALE TERMS 10% deposit, balance 60/90 days
02 POINT OF VIEW
“This property stands as a testament to inherent value, not just in its present form but also in its myriad of future possibilities.”
LEO MANCINO DIRECTOR - WEST REGION
“Walking through this property, one can feel both the city’s pulse and the strategic calm its location offers. It’s a rare blend that appeals to both seasoned investors, owner occupiers and ambitious developers.”
IAN ANGELICO MANAGING DIRECTOR - AGENCY
Located on the immediate fringe of Melbourne’s bustling city center, the property enjoys an outstanding position in North Melbourne.
5,735 sqm in a city fringe area.
Over 85 metres frontage on Mark Street.
High development potential.
Close to new Metro tunnel - Arden Station and major arterials.
Projected passing income $745,500.00 per annum.
Valuable and sought after Mixed Use Zoning (MUZ) and forming part of the Macaulay Urban Renewal Structure Plan.
This substantial property at Mark Street boasts a massive landholding of approximately 5,735 sqm complemented by two side-by-side buildings in pristine condition, spanning an impressive frontage of over 85 meters. It currently hosts a lucrative short-term lease, ensuring a robust income stream.
Its flexible Mixed-Use Zoning within the Macaulay Urban Renewal Structure Plan adds to the site’s vast potential, allowing for a variety of development possibilities including Build to Rent and Co-Living solutions. With its substantial allowable building height, this property presents an extraordinary opportunity for transformative projects right at the city’s fringe.
03 PROPERTY FEATURES
IMPROVEMENTS
Two (2) independent buildings, both featuring Mark Street frontage of over 85 metres (approx.)
77-81 Mark Street: Clear span, high clearance warehouse featuring two roller access points from Mark Street, together with a rear roller access. In addition, the building features a two level office structure.
Floor area 2,482sqm*
83-87 Mark Street: Clear span, high clearance warehouse featuring dual roller access from Mark Street, together with two separate office structures on either side of east side roller door.
Floor area 2,716sqm*
04 TENANCY DETAILS
TENANCY SCHEDULE 77-81 MARK STREET
TENANT Garden State Towing Pty Ltd
CURRENT RENTAL
LEASE TERM
FURTHER TERM
COMMENCEMENT DATE
RENTAL REVIEWS
TERMIMATION AGREEMENT
GARDENSTATE TOWING PTY LTD
Gardenstate Towing, established in 1987, provides expert towing services throughout Melbourne and Australia. The company operates a full fleet of tow trucks and specialized vehicles, supported by highly trained staff, including tow truck drivers, 60% of whom are also qualified mechanics. A 24-hour call center with professional staff is available to handle inquiries.
Based in Abbotsford and North Melbourne, Victoria, Gardenstate Towing also offers highly secure storage facilities with CCTV monitoring. Over the years, they have served a diverse clientele, including private individuals, vehicle manufacturers, dealerships, fleet managers, insurance firms, and government agencies.
$360,500 p.a. Gross from 1st July 2025 (subject to tenant exercising the option)
Two years
Two years + One year
1st July 2023
Annual increase of 3%
Exercisable by either party after the 1st July 2025, by giving 6 months notice
TENANCY SCHEDULE 83-87 MARK STREET
TENANT Offered with vacant possession
PROJECTED RENTAL
$385,000.00 p.a. + outgoings
05 LOCATION
ALL SIGNS POINT TO: MARK STREET. AND THE POINT?
This property stands strategically located in North Melbourne, a suburb recognized for its seamless blend of historic charm and modern vibrancy.
The land’s proximity to the upcoming Melbourne Metro Station of Arden places it at a nexus of transit connectivity, boosting its appeal to developers and businesses alike. Accessibility is further enhanced by easy ingress and egress to major arterial roads, ensuring swift travel to and from the city center and other significant locales.
Vibrant. Central. Connected.
Situated in the dynamic North Melbourne area, this property promises unparalleled accessibility and visibility.
06 SUBURB PROFILE
ON THE MAP: NORTH MELBOURNE
North Melbourne is an emblem of urban transformation, transitioning from its industrial origins to a contemporary enclave that attracts an eclectic mix of residents and businesses.
Its demographic landscape is characterized by a youthful and educated population, driving demand for residential and commercial spaces that cater to a sophisticated lifestyle. The suburb is supported by robust infrastructure including advanced public transport networks and burgeoning local amenities, enhancing its potential for future growth and development.
This suburb stands out as a beacon of potential, drawing interest from investors and developers looking to tap into its dynamic market and strategic location.
POPULATION
07 PROPERTY PARTICULARS
PRINCIPLE OUTGOINGS
Council rates: $43,430.49 per annum*
Land tax: $280,220.00 per annum*
SITE DETAILS
TITLE PARTICULARS
ZONING
PLANNING OVERLAYS
MUNICIPALITY
Frontage to Mark Street: 85.34 metres*
Western side boundary: 191.5 metres*
Eastern side boundary: 122.7 metres*
Southern side boundary: 85.1 metres*
Total site area: 5,734 square metres*
Certificate of Title — Volume 08555 Folio 097
Lot. 2 TP625050
Lot. 1 TP625050
MUZ - Mixed Use Zone
Development Contributions Plan Overlay - Schedule 2
Design And Development Overlay - Schedule 26
Design And Development Overlay - Schedule 63 (Area 7)
Design And Development Overlay - Schedule 66
Environmental Audit Overlay
City of Melbourne
08 CONTACT DETAILS
LEO MANCINO DIRECTOR - WESTERN REGION
M: 0418
E: leo.mancino@cva.melbourne
M: 0418 336 088
E: ian.angelico@cva.melbourne
POINT OF INTEREST:
It’s the expertise accumulated over three decades paired with a realistic outlook on life, that makes Leo not just a seasoned director to the CVA team, but a significant asset when it comes to dealing with yours. From personable first impressions to successful business transactions, he has not just built a solid and loyal client base, but developed negotiation techniques that have earned him great respect in this city’s industry.
POINT OF VIEW:
“Over the last thirty years in Melbourne’s dynamic commercial sector, I’ve experienced many highs and steered my clients confidently through the lows. Because, while the market fluctuates, my focus remains constant. And that proves to be the most reliable quality in the industry.”
POINT OF INTEREST:
In more than 30 years, Ian has witnessed the successful signing of more than two thousand commercial real estate transactions – which is more of a legacy, than a track record. And it’s one that has been achieved by adopting a methodical approach amongst a myriad of changing variables. It’s one that has been sharpened through his holistic exposure to commercial projects across all points of Melbourne. By focusing on maximising each property’s profitability, Ian ensures that at the end of the day, it’s maximising value that determines his success.
MANAGING DIRECTOR - AGENCY
POINT OF VIEW:
“Business, similar to commercial property, comes down to economics — the all-important dollar. And so, those in the market must recognise that when providing platforms for businesses to transition from ideas to implementation, the price must be right not just today but tomorrow, too.”
IAN ANGELICO
08 CONTACT DETAILS
DANIEL PHILIP DIRECTOR - SALES
E: daniel.philip@cva.melbourne
POINT OF INTEREST:
An agent that turns first impressions into lasting commitments. Since the early days of his career, Daniel has established a level of service that is defined by in-depth market knowledge, expert advice and responsive communication. Committed to creating value in the commercial real estate opportunities he matches with his clients’ objectives, and the ability to think outside the square. Especially if that extends well beyond Melbourne’s inner-city grid.
POINT OF VIEW:
“Commercial real estate is underpinned by longevity. In the loyal client partnerships we establish and the value we create on a trusted basis, it’s a partnership that starts here, but sees each individual reach their own objectives.”