Stonebridge Property Group is pleased to present for sale 1 Craine Street, South Melbourne.

The property is a 100% leased refurbished office/showroom in the epicentre of a globally recognised suburb with unrivalled connectivity to the Melbourne CBD.

Key highlights of the property include:

• 100% leased to an international tenant - New Era Cap Australia, they are, in Australia, the headwear supplier of the AFL, AFLW, NRL and The Australian Open
• New Era Cap is the official cap of the world’s biggest sporting leagues including MLB, NBA and NFL. They are a 100-year-old business and have over 13 offices worldwide
• Fully leased until January 2026 with 3.5% fixed annual increases, plus one 3-year option with a market review for the lease renewal
• Providing annual income of $159,655^ plus GST + outgoings (except Land Tax)
• Existing improvements, which are customised by the tenant, comprise a dual-level modern office/showroom with polished concrete floors, warehousing capacity, loading dock, and several access points including a 3.9 m* clearance roller door
• Rare 2+ car lock up garage within this pocket of South Melbourne
• Strategic 204 sqm* landholding with significant scope for development upside (STCA)
• Favourable Commercial 2 zoning allows for a variety of uses including office, retail, hospitality, caretakers’ residence and creative spaces
• Positioned to benefit from the amenity on South Melbourne’s strongest retail pocket, all within walking distance – ST. Ali (100 m*), Vintage Cellars (170 m*), Factory Sound (120 m*), Bells Hotel (210 m*), Coles (250 m*), Clarendon Street retail (200 m*) and the renowned South Melbourne Market (500 m*)
• Zoning allows for a height limit of 15.5 metres or 4 storeys, providing the opportunity for future development upside or an exit strategy (STCA)
• Rare opportunity to secure a freehold office/showroom building in Melbourne’s most in-demand city fringe suburb

1 Craine Street, South Melbourne is for sale via private negotiation. To obtain further information or to arrange an inspection, please contact the exclusive selling agents.

*Approximately

^As at 1 February 2025