490 High Street, Preston.
Prime freehold opportunity in Melbourne's thriving inner-northern community!
Hockingstuart Preston is pleased to offer this exceptionally positioned High Street property for sale. provides flexible options for small business owners, savvy investors, owner occupiers or developers to secure their spot in one of Melbourne's most popular inner-northern communities. The space is the ideal investment for buyers or business owners thinking outside the square to make use of the commercial shop front, kitchenette, bathroom and additional two rooms which can be used as an existing residence/consulting rooms/medical center or even converted into a dual occupancy commercial and residential space which can be leased separately for dual income. With approved plans and permits already completed (STCA) and onsite parking for two cars via rear lane access, this property offers endless possibilities for the astute investor. Key Features: Commercial Shop Front: A prominent High Street frontage with an approx. floor area of 41m2 Flexible Layout: Embrace endless possibilities with a kitchenette, bathroom facilities, and two spacious rooms. Create consulting rooms, a corporate office, a medical center, or transform the space into a dual occupancy commercial and residential haven (STCA). Rear Lane Access: Enjoy convenient access and onsite parking for two cars, maximizing convenience for you and your visitors. Investment Potential: Projected annual rental income of approximately $30,000 per Annum plus outgoings, ensuring a steady return on your investment. Strategic Location: Nestled in the heart of the bustling High Street retail precinct, you'll be surrounded by an array of retail amenities and excellent transport options. Development Potential: Capitalize on the Priority Development Zone (PDZ2) - Schedule 2 designation, providing exciting future development possibilities (STCA). Existing Plans: Benefit from approved planning permits and concept drawings that pave the way for a combined commercial and residential space, allowing for dual leasing income. Contact Our Expert Team: Sales Agents: Joe Ledda: 0418 176 858 or Josie Galati: 0431 621 614
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Get to know the area.
Preston is an ever-evolving suburb that has been sitting quietly on the sidelines of some of Melbourne’s most vibrant and artistic neighbourhoods. But there is a change in the air, as Preston’s emerging bar and dining scene is getting noticed. Its amiable streets are lined with a mix of charming California bungalows and modern townhouse developments, all of which add to the village-like ambience of this easy-going northside suburb.
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Hockingstuart Preston is a real estate hub of committed professionals who are dedicated to meeting all our clients’ property needs, including expert property management services to the 950 landlords who trust us with their investment properties.
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