Gross Waddell ICR and Colliers are privileged to present one of Carlton’s finest freestanding investment offerings. 138-144 Elgin Street, Carlton is offered For Sale by Expressions of Interest closing Thursday 20 November 2025 at 2pm (AEDT).

This offering – over a century in the making – brings one of Carlton’s best investment opportunities to market for the next chapter in its stewardship.

Comprising a Maggie Edmond designed three-level building that retains its heritage persona, the 1,390sqm* building sits on a dual-fronted landholding of 520sqm* that is enhanced by a 20m* frontage to Elgin Street. The property is occupied by two tenants – a boutique retail grocer and a short-stay accommodation provider – providing a diverse income profile featuring occupiers in two high-performing sectors.

- Annual income of $494,845 (excluding outgoings & GST)
- 520sqm* dual fronted landholding
- 1,390sqm* three-level building designed by renowned architect Maggie Edmond
- Permit-approved for additional level offering value-add future possibilities
- Tightly held city fringe location with world class lifestyle, retail and hospitality amenity
- Close proximity to University of Melbourne and student accommodation offerings from Scape and UniLodge.
- Nearby public transport offerings include the Swanston Street/Lygon Street tram route and bus routes along Rathdowne Street

Carlton has long been synonymous with AAA retail & hospitality offerings, a host of education institutions and accommodation offerings, as well as medical clinics and ancillary operations.

138-144 Elgin Street, Carlton is iconic & steeped in history, fully leased & providing nearly half a million dollars a year of income, and positioned for future improvement & upside – an offering that ticks all the boxes.

For more information or to arrange an inspection, please contact Gross Waddell ICR.

*aproximate