Rare Russell Place, Melbourne laneway asset offered to market

Owner occupiers and investors have the chance to secure a rare laneway retail asset in their heart of the Melbourne CBD.

Colliers International’s Chris Ling, Oliver Hay and Anthony Kirwan have been appointed to sell 22 Russell Place by international expressions of interest.

Nestled between Bourke Street and Little Collins Street in the CBD’s sought after retail precinct, the prime retail asset is situated on the ground floor of a nine-storey mixed-use complex.

Spanning 53 sqm of NLA, the property benefits from high ceilings and a floor-to-ceiling glazed shopfront.

“The location of the property is second to none, being in one of Melbourne’s signature laneways Russell Place,” Mr Ling said.

“This rare opportunity is perfectly timed, being offered with vacant possession, as there is flexibility for owner occupiers and investors to capitalise on the strong rental growth and the variety of uses the premises offers.”

“Strategically the property has immediate access to the Bourke Street tram supers-stop at the front doorstep as well as Melbourne Central and Parliament Train Stations. The area will also benefit from the upcoming State Library Metro Station,” he said.

“Opportunities of this kind are highly sought-after in Melbourne CBD and are rare as such, we are expecting a competitive contest when this property hits the market next week.”