298-300 Bay Street, Port Melbourne, Vic 3207

OPEN FOR INSPECTION - TUESDAY 11 FEB 12:00PM. 

Lemon Baxter is pleased to present 298-300 Bay Street, Port Melbourne for sale via Expression of Interest, closing Wednesday, 12th March 2025, at 1PM (AEDT).

This exceptional freehold opportunity is situated in a prime location and features:
- Land size: 253 sqm
- Net lettable area: 172 sqm
- Frontage: 10.06 metres
- Car spaces: 2

The property is leased to Symmetry Physio Port until 31st October 2028, with no further options. It generates a net annual rent of $87,223.90, with fixed 3% annual increases.

Zoned Commercial 1 (C1Z), the site offers significant development potential (STCA), making it an attractive opportunity for investors and developers alike.

Strategic Location & Growth Potential:
298-300 Bay Street is positioned adjacent to the Sandridge and Montague precincts, both of which are undergoing major transformations under the Fishermans Bend Urban Renewal Plan.

Sandridge Precinct:
Set to become a vibrant commercial and residential hub, Sandridge will feature:
- A diverse mix of housing and retail spaces
- A civic spine along Fennell/Plummer Street
- Excellent public transport and cycling links
- Green links, laneways, and recreational areas
- A blend of high-rise and low-scale developments
- A new school and community services

Montague Precinct:
Traditionally an industrial area, Montague has undergone rezoning to a Capital City Zone (2012) as part of the Fishermans Bend Urban Renewal Plan. The 43-hectare precinct is being transformed into a well-connected, mixed-use precinct split into Montague North and Montague South by the 109 tram line. Key features of the Montague redevelopment include:
- Mixed-use developments with residential, retail, and commercial spaces
- New parks, bike paths, and public open spaces
- Planned schools and community infrastructure
- Attractive opportunities for businesses and employment growth

With its prime positioning and access to major urban renewal projects, 298-300 Bay Street presents a compelling investment in one of Melbourne’s most rapidly evolving precincts.

Contact our exclusive selling agents at Lemon Baxter for further information.