Dual Street Frontage Freehold Building with Holding Income – Live & Work Opportunity
Stonebridge Property Group, acting under instructions from vendor’s advocate Impacta Commercial Advocates, is pleased to present 171-173 Stanley Street, West Melbourne, offered for sale via Public On-site Auction.
171-173 Stanley Street , West Melbourne is a highly functional and flexible dual-level building on the cusp of Melbourne's CBD, ideally suited to owner-occupiers, investors and future developers seeking a flexible commercial and residential asset in a tightly held city-fringe location.
Key highlights of the property include:
- Substantial three-level building of 500 sqm*, incorporating ground floor photograph studio, level 1 office accommodation, and a two-bedroom penthouse residence on the second floor with large balconies and CBD views
- 521 sqm* Special Use Zone landholding allowing for potential future development
- Ability to owner occupy from December 2026 as tenant transitions to a month-to-month arrangement
- The property is being sold as a going concern, with no GST applicable
- Adjoining PDG’s latest boutique residential development of 105 apartments, currently under construction next door, which will bring further vibrancy to the area
- Positioned on the edge of the CBD grid, just 980 m* from the globally recognised Queen Victoria Market (that enjoys 10,000,000* + visitors annually)
- Intelligent multi-tenant design with separate rear pedestrian access to the ground and upper residential levels, accommodating multiple tenants or a single owner-occupier
- Office space ideal for owner-occupiers across a range of industries, including graphic designers, marketing agencies, architects, builders, developers, family offices, education, engineers and more
- Potential uses under the Special Use Zone include: Art Gallery, Automated collection point Community care accommodation Dwelling (other than Bed and breakfast), Food and drink premises, Medical centre, Office (other than Medical centre), Place of worship, Rooming House, Leisure and recreation (other than Informal outdoor recreation), Warehouse and more.
- The City of Melbourne estimates the new Arden Precinct revival will increase the area’s capacity to 15,000 residents and 34,000 jobs over the next 30 years
- Offered with 6 on-site car parking accessed via the rear of the property
- Highly central location nearby ALDI (400 m*), North Melbourne Station (500 m*), Flagstaff Gardens (550 m*), and Marvel Stadium (800 m*)
- Holding income of $146,712 p.a. + GST + outgoings from commercial and residential tenants
171-173 Stanley Street, West Melbourne is for sale via Public On-site Auction Friday 20th November 2026 at 10:30am (AEDT). To obtain further information or to arrange an inspection, please contact the exclusive selling agents, Stonebridge Property Group.
Dylan Kilner
0459 396 341
Max Warren
0488 296 892
*Approximately
Stonebridge's VIC City Fringe Team is one of Melbourne's most active commercial sales teams, specialising in commercial property sales across Melbourne's city fringe, including office buildings, warehouses, block of flats and development properties. Having transacted more than 74 commercial properties across Melbourne's inner-city suburbs over the past two years (as at July 2026), the team is recognised for its local expertise, strategic advice and consistently strong results for clients.
Property Code: 1893
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