GrayJohnson

FOR SALE | 144 Bell Street, Preston

HIGH EXPOSURE LANDHOLDING WITH DUAL STREET FRONTAGE

EXPOSURE PLUS ON BELL STREET | FLEXIBLE 2,300 SQM* SITE IN CORE PRESTON LOCATION

Vinci Carbone and Gray Johnson are pleased to present this exceptional high-profile occupier and development opportunity located at 144 Bell Street, Preston.

Positioned within one of Melbourne’s most tightly held inner-northern suburbs, the property comprises a substantial 2,300 sqm* landholding with significant dual street frontages to Bell Street and Ovando Street exceeding 30 metres* each.

The existing improvements comprise an 880 sqm* office and warehouse facility with front and rear access, providing short-term holding income and immediate functionality for occupiers, while also offering exceptional flexibility for refurbishment or redevelopment (STCA).

Importantly, the lease structure provides future flexibility for owner-occupiers and developers, with an early termination provision available from September 2026.

Strategically positioned along Bell Street, the property benefits from outstanding connectivity to Albert Street, Plenty Road and Melbourne’s broader arterial road network, providing seamless access to the CBD, northern suburbs and wider metropolitan area.

The surrounding precinct is home to a range of national occupiers including Bunnings, Harvey Norman, Officeworks, JB Hi-Fi, Chemist Warehouse and Australia Post, reinforcing Preston’s position as a highly sought-after commercial and industrial location.

🔹Flexible Landholding: Substantial 2,300 sqm* site with enormous future flexibility
🔹High Exposure Frontage: Over 60 metres* of combined frontage to Bell Street and Ovando Street
🔹Existing Improvements: 880 sqm* office and warehouse facility with front and rear access
🔹Industrial 3 Zoning: Flexible zoning supporting a wide range of future outcomes (STCA)
🔹Flexible Lease Profile: Existing holding income with future vacant possession flexibility via early termination provision from September 2026
🔹Occupier & Development Upside: Ideal opportunity to refurbish, reposition or redevelop the site (STCA)
🔹Strategic Inner-North Location: Positioned within Preston’s established commercial and industrial precinct
🔹National Surrounding Occupiers: Nearby operators include Bunnings, Harvey Norman, Officeworks and JB Hi-Fi
🔹Strong Connectivity: Excellent access to Albert Street, Plenty Road and key metropolitan arterials

For Sale via Expressions of Interest closing Thursday 18 June at 4pm.

📞 Contact:
Matt Hoath 0418 543 714
Rory White 0439 655 504
Frank Vinci 0418 375 375
Joseph Carbone 0418 351 316

*approx.

SOLD | 26 Wood Street, Thomastown

Rare Industrial & Commercial Supersite

As seen in the Industrialist, GrayJohnson, in conjunction with CBRE, has successfully sold the iconic Thomastown Trash and Treasure market in a highly competitive sale campaign defying economic uncertainty.

"When everyone else in the media is talking 'doom and gloom,' this campaign proved the exact opposite," Matt Hoath added. "We saw excellent inquiry and engagement from start to finish. Buyers are steering away from smaller style developments, which have fallen out of favour, and are heavily focusing on larger prime industrial assets that support long-term business growth."

Key Transaction Details:

🔹Sale price - undisclosed
🔹Total land: 2.491 hectares*
🔹Two expansive street frontages (Wood Street & Settlement Road)
🔹Two commercial tenants - short term leases
🔹Buyer profile: Established local commercial and industrial developer

While this deal may be done, surrounding potential remains. Two remaining parcels at 261 and 267-273 Settlement Road are still available.

For more details on this transaction or if you would like to enquire about the remaining parcels, contact Matt Hoath on 0418 543 714

*approx.

In our latest GJ Perspective email, GrayJohnson Director Matt Hoath discusses a major trend emerging in Melbourne's commercial office market and the significant opportunity it presents for investors.

With new office developments slowing and available space tightening across Melbourne's CBD East End and Inner East precincts, we're seeing a market where the "flight to quality" is becoming a "fight for space". As tenants compete for quality workspace, strategic refurbishments are helping investors attract stronger tenants, minimise vacancy periods and unlock additional asset value.

A great example is 85 Cubitt Street, Cremorne (pictured above), where refurbishment has transformed the property into a highly sought-after workplace, highlighting the growing demand for premium office space/studio beyond the new-build market.

Want to stay ahead of the market? Join our mailing list via our website (link in bio) to receive our regular commercial property updates, investment insights and industry commentary from the GrayJohnson team.

LEASED | 2 Albert Street, Preston

Another major industrial leasing success!

GrayJohnson are excited to have negotiated the relocation of MOTH DESIGN — the creative force behind some of Australia’s most memorable experiential activations — into their new headquarters at Ground Floor, 2 Albert Street, Preston.

The transaction, brokered by Rory White of our office, sees MOTH DESIGN secure a 2,100sqm facility on a 15-year lease term — a clear statement of long-term commitment and operational confidence.

This deal highlights continued demand for high-quality, functional industrial space that seamlessly combine office, design, production and large-scale operational functionality under one roof.

A fantastic result for all parties involved and a strong sign of confidence in Melbourne’s industrial market.

Read more about the deal in The Industrialist - https://lnkd.in/gxgxWStJ

Contact Rory White on 0439 655 504 regarding this leasing or to discuss your requirements.

FOR SALE | 21 Balmain Street, Cremorne

This one’s unique!

If you want to stand out from the crowd, make a statement with this exciting studio/office. It won its architects a prestigious award back in the day. And it still has all the features to impress your people and your clients. What’s more, the location in the heart of Australia’s “Silicon Valley” means there’s plenty of buzz around you.

• Building area: 195 sqm approx.
• Plus first floor balcony: 18 sqm approx.
• Fully fitted contemporary kitchen
• Loft open plan workspace
• Amenities on both floors
• Close to trams, trains, Citylink, Yarra bike trail

Expressions of Interest closing Wednesday 8 July at 2 pm.

📞 For more details, contact Rory White on 0439 655 504 or Matt Hoath on 0418 543 714.

NEW TO MARKET | FOR LEASE

Our latest leasing opportunities have just hit the market. A collection of properties to suit a variety of business uses, all in sought-after locations and ready to be inspected.

Looking for a new space for your business? Whether you're expanding, relocating or establishing yourself, we have leasing opportunities to suit a variety of requirements.

Get in touch with our team for further information.

📞Matt Hoath 0418 543 714
📞Brett Simpson 0402 427 392
📞Rory White0439 655 504
📞Anthony Boldrini 0468 519 472
📞Simon Regan 0412 059 900

With RISING returning to Melbourne from tomorrow to June 8th, the city becomes a showcase for creative activation and adaptive reuse in action.

Across the CBD, spaces are transformed through live music, immersive installations, experimental theatre and public experiences — proving that the best places aren’t always the ones built for a single purpose, but the ones reimagined.

From laneways and rooftops to underutilised buildings, public spaces and unexpected corners, RISING highlights how creativity can reshape the way we engage with the city. Temporary activation brings people, energy and attention into spaces that may otherwise be overlooked — reinforcing the role of experience, vibrancy and placemaking in a thriving CBD.

For property owners, occupiers and investors, it’s also a reminder that great spaces evolve. The most compelling environments are often those that adapt, activate and create connection.

If you’re in the city this winter, take the opportunity to explore, support the festival and experience Melbourne’s CBD from a different perspective — you might just discover a space, laneway or hidden corner you’ve never noticed before.

Melbourne’s CBD at its best: creative, dynamic and constantly reinventing itself.

LEASED | 244–248 Hoddle Street, Abbotsford

HIGH-EXPOSURE CORNER SECURED

National retailer Forty Winks has secured a prime corner position in Collingwood, marking another strong result by GrayJohnson in Melbourne’s inner-north leasing market.

Brokered by GrayJohnson Director Matt Hoath, the high-profile showroom at the intersection of Hoddle & Turner Streets has been leased on a 5-year term with further options, at a commencing rent of $215,000, reflecting continued demand for well-located, high-exposure assets.

With an 18-metre frontage to one of Melbourne’s busiest arterial roads, this deal highlights the ongoing resilience of the showroom and essential retail sectors.

"Despite broader market challenges, we are seeing national brands remain incredibly resilient, particularly within the essential retail and showroom sectors. There is a clear, ongoing appetite for well-located, modern assets in the inner north." – Matt Hoath

🔗Read the full article via the link in our bio to learn more about this transaction and what it says about the current market.

📞Contact Matt Hoath on 0418 543 714 for a discussion about your property needs.