As Melbourne’s leading independent commercial property agency, we take pride in creating worth across all four points of this city.
THE ULTIMATE LYGON STREET OPPORTUNITY
A rare opportunity to secure a prestigious office space in the heart of Carlton, located on bustling Lygon Street within the highly sought-after Commercial 1 Zone. This vibrant mixed-use environment boasts exceptional natural light and is surrounded by renowned cafes, restaurants, and cultural hotspots.
Strategically positioned, this property offers easy accessibility, including full disabled access across all levels. Located just 1.1 km* from Flinders Street Station and less than a 10-minute* walk to The University of Melbourne and a short 1.1 km* to the brand new Parkville Metro Station, this office space is ideally suited for business, education, or student services. Enjoy the convenience of nearby landmarks such as the famous Brunetti Café and several other popular spots.
This property is currently leased to Milestone English Academy Pty Ltd, making it an ideal long-term investment in a high-demand educational precinct. With a long-term lease in place and a thriving tenant base, this office space ensures a solid return in a prime inner-city location.
400 m* to Brunetti and Cinema Nova.
Walking distance to Carlton Gardens and public transport.
“A landmark by association, you’re surrounded by some of Melbourne’s beloved institutions. It means that beyond the current lucrative tenancy in place, this will always be hot property to any education, creative, or well-connected operator wanting to be a short walk from Brunetti’s cannolis.”
Craig has been transacting commercial real estate in Melbourne’s north for more than a decade. And in that time, he’s marvelled at how the properties within this point of the city have adapted to the burgeoning urban landscape. It’s a transformation he has witnessed not just as a real estate agent but a property consultant, too. He’s equipped with the resources to think beyond today and forecast market trends, investor profitability and even Melbourne’s weather — yes, you should always pack a jumper.
Perfectly polished down to the concrete floors. This hybrid office space has been fitted to provide any education service or business team with a range of spaces to work out of. There’s a reception area for introductions, a mix of open-plan and partitioned classrooms and administration offices. The kitchenette encourages students and staff to bring their lunch in, but the options outside of these walls say otherwise.
Light, bright, and utterly tightly-held, there’s an abundance of natural sunlight that streams through the property. It’s also accessible through disability considerations across all levels, plus an added rare bonus of 4 on-site allocated car parks within the package.
Carlton, especially around Lygon Street, is experiencing a strong upward commerical trajectory, making it an attractive investment area. This growth is driven by key factors such as its vibrant cultural heritage, which has long drawn both locals and tourists. The suburbs bustling cafes and dining scene, along with its proximity to universities and the city centre, further solidify its appeal. These elements make Carlton a prime location.
Here are some trends that highlight the commercial trajectory of
Carlton
Education Driven Growth Different Business Types Rising Demand for Office Spaces
Residental and Mixed Use
Tourism Appeal
TENANCY SCHEDULE
Tenant
Current rental
Lease terms
Commencement date
Further terms
Rental reviews
Outgoings
Milestone English Academy Pty Ltd T/A Milestones Education
$123,600.00 p.a + outgoings
Five (5) years
1st August 2023
One (1) further term of Five (5) Years
3% anually in the first term and 4% into the second term
Payable by Tenant as per lease
Milestone English Academy Pty Ltd, part of Milestones Education.
Designed to provide international students with a premium educational experience offering English, Business, IT, Project Management and Cookery and Hospitality courses. They work with the industry to ensure our courses provide the much-needed handson practical experience to their learners.
With flexible study options and a range of timetables at competitive prices, Milestone is proud of their quality management system that ensures the courses provide real and quality outcomes that contribute to positive development.
Milestones English Academy is an ELICOS centre offering language courses and Milestones International College provides vocational education and training. All of our programs, ELICOS and VET are CRICOS registered.
Principle Outgoings
Title particulars
$6,109.15 p.a approx
$1,352.53 p.a approx Owners corporation
$22,479.60 p.a approx
$2,066.68 p.a approx
Certificate of Title — Volume 09694 Folio 870
Lot 7 on Plan of Subdivision SP30021
Zoning Commercial 1 Zone (C1Z)
Planning Overlays
Municipality
Design And Development Overlay — Schedule 47 (DDO47)
Design And Development Overlay — Schedule 66 (DDO66)
Heritage Overlay — (HO1)
Parking Overlay — Precinct 12 (PO12)
City of Melbourne
All signs point to: Lygon Street
“On the weekend crowds of people stream in and out of the movies at the Nova, mill around in Readings and queue for gelato late into the evening. The children and grandchildren of the original Carlton Italians still jostle for cappuccino and cake at Brunetti at all hours of the day and night; you can still get a glass of red at Jimmy Watson’s or a spritz at one of the hipper bars next door, and some of Melbourne’s best pizza if you know where to look. A new wave of young Italian travellers and immigrants is keeping the street’s Italian accent strong.” — Matt Holden.
The OG cultural hub:
Carlton has long been considered the original city fringe meeting point, ever since the Italian influence spread across the postcode and brought its intoxicating European flair to late mornings and late-night espressos. Now, Little Italy has also welcomed boutique cinemas and bookshops, premium retail like MECCA, Country Road, and Milligram, and some of the city’s best restaurant institutions like Di Stasio, Brunetti, and Heartattack and Vine. You really cannot get a better location, all ameneties and city location like you can at 252 Lygon Street.
PT2 (Proximity To Public Transport):
From every point. Located just 1.1 km* from Flinders Street railway station, you’re also a 10-minute walk from the Melbourne University and Swanston Street main tram stop, a 5-minute walk from Rathdowne Street’s bus, and a kilometre from Melbourne Central. We cant forget the new Parkville Metro Sation, just 1.1 km* away. You can jump on the number 1 or 6 Tram, which can drop you off at Flinders Street, or better yet stroll past the State Library or stop into QV Shopping Centre on the way.
Zoning advantage:
A mixed-use area by design and by context. This asset could be utilised by any retail or office user, or completely transformed for another industry. The area’s demographic of long-term residents, students, and professionals wanting to stay close to work makes this pocket the ideal base for activity to flourish.
Education precinct:
Carlton is not just about the popular Pidapipo ice cream; it’s also a vibrant hub of education, thanks to its close ties with the University of Melbourne. Sharing its space with Parkville, the university’s original and main campus, established in 1853, is a cornerstone of the area. It houses ten faculties and brings together a diverse community of students, researchers, and professionals. Recently, the university has expanded significantly south of Grattan Street, further cementing its presence in Carlton. Additionally, RMIT’s new Swanston Street Hub highlights the area’s growing role as a centre for world-class learning, teaching, and training.
AND THE POINT?
Strategic. Connected.
Go where the people are. Unlike your Chapel Streets or Bridge Roads, Lygon Street hasn’t seen a trough since its peak 40 years ago. Buy into unwavering popularity and the strongest connectivity Melbourne can offer.
All signs point to: Carlton
Carlton’s commercial trajectory is one of cultural sophistication meeting modern enterprise, creating a vibrant ecosystem for both businesses and consumers. Known for its rich history, including its iconic Italian precinct on Lygon Street, Carlton has long been a destination for culinary excellence, arts, and education. As Melbourne continues to evolve, Carlton has positioned itself as a dynamic hub that blends tradition with innovation — served with an espresso.
Home to the University of Melbourne and a thriving student population, the area benefits from a steady stream of youthful energy, fostering demand for trendy cafes, co-working spaces, and cutting-edge retail concepts. This mix of academic influence and a growing professional class makes Carlton a hotspot for emerging industries, from tech startups to boutique service providers. The high foot traffic, coupled with its cultural landmarks like the Royal Exhibition Building and Melbourne Museum, presents unique opportunities for businesses that cater to both locals and tourists.
Carlton’s walkability, proximity to Melbourne’s CBD, and continued investment in infrastructure like public transport improvements, ensure its long-term commercial vitality. As more businesses seek to balance urban buzz with neighbourhood charm, Carlton is perfectly positioned to attract innovative ventures in hospitality, retail, and creative services.
The commercial future of Carlton is bright — rooted in its historical allure but driven by the potential for modern growth. It’s a place where heritage businesses can thrive alongside new ventures, making it a strategic and lucrative location for savvy investors and entrepreneurs alike.
SALES PROCESS PRIVATE SALE
Private
Sale Process
At CVA, we are dedicated to providing a professional and transparent experience throughout the private sale process.
To ensure clarity and fairness, we have outlined the key steps below, allowing prospective purchasers to fully understand the process when submitting an offer.
1. Submitting Offers
Offers can be submitted at any point during the private sale period, as there is no fixed closing date. We recommend that all interested parties submit their strongest offer using the provided documentation, ensuring all fields are completed and the form is signed. Once submitted, your offer will be promptly presented to the vendor for consideration.
2. Review Process
Upon receipt, all offers are carefully reviewed by the vendor. We will communicate any feedback or decisions regarding your offer in a timely manner. Unlike auctions or formal Expressions of Interest campaigns, the private sale allows the vendor the flexibility to accept, negotiate, or decline offers at their discretion as they are received.
3. Contract and Settlement
Should your offer be accepted, a formal contract of sale will be prepared. At this stage, a deposit may be required to secure the property. The agreed terms of the contract, including the settlement period, will then be finalised between the buyer and vendor.
We strive to maintain open communication and provide professional guidance throughout the private sale process, ensuring a seamless experience for all parties involved.
