Gross Waddell ICR is pleased to present 244-248 Canterbury Road, Surrey Hills. An exceptional opportunity to acquire a prominent inner-eastern freehold education investment underpinned by stable income, major exposure and significant long-term upside.

Positioned on a high-profile corner site, the property comprises a substantial two-level commercial building of 805sqm* on 892sqm* of Commercial 1 Zoned land, offering immediate investment appeal together with future flexibility for investors, developers and landbank buyers alike (STCA).

Fully leased to two established education tenants, the property delivers a passing net income of $178,880* per annum, with lease expiries through to February 2030 plus options. This stable education-based tenancy profile offers a resilient income stream, well suited to the surrounding catchment and complementary to the wider precinct.

With excellent exposure to busy Canterbury Road, strong accessibility and a position within one of Melbourne’s most tightly held and affluent eastern suburbs, this is a compelling opportunity for purchasers seeking both secure income today and long-term growth tomorrow.

Features:

• Land area of 892sqm*

• Commercial 1 Zone landholding

• Two established education tenants with 4% annual increase

• Lease expiries to February 2030 plus options

• Highly beneficial three street frontages

• Up to 19 secure lock up or at grade car parking

• Long-term rental growth, landbank and development potential (STCA)

• Located in affluent Surrey Hills with median house price of $2,200,000 (REIV)

The property is for sale via Expressions of Interest Closing Wednesday 13th May 2026 at 3:00pm.

For further information or to organise a personalised tour of the property, please contact the team at Gross Waddell ICR directly.

*approx.