In Newmarket, a high-demand location where space is scarce and zoning is generous, 3B Melrose Street delivers on all fronts. This 687sq m ground-floor building sits proudly on a prime corner site in the heart of Newmarket and offers the rare combination of secure income and immediate upside.
Currently configured as two self-contained tenancies, the front 199sq m unit is leased to Reform Pilates, generating $61,285 net per annum and anchored until October 2026.
The rear tenancy – a 488sq m light-filled office with polished concrete floors, exposed beams, generous meeting spaces and a 66sq m private deck – is vacant and ready to go.
“This is a great option for owner-occupiers who want a foothold in Newmarket, while still drawing income from the Pilates lease,” says Barfoot & Thompson Commercial Broker, Reese Barragar. “It’s also an appealing play for investors wanting an immediate return and add-value upside.”
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The freehold property includes 11 onsite car parks, a 100% NBS seismic rating, and Business – Metropolitan Centre zoning.
With just four units in the wider development, opportunities to buy here are few and far between. Add to that the dual street frontage on Melrose and Roxburgh, and you’ve got a standout position with lasting value, he says.
“The rear space has great bones – open plan, high-stud, well presented – and the exclusive-use deck adds something special,” Barragar says. “Whether you’re scaling up, downsizing or rethinking your footprint, there’s flexibility and appeal here.”
Positioned in the vibrant Roxburgh Hub, this site offers unbeatable access to transport, hospitality, shopping and amenity. Westfield is a short stroll away, as is the Newmarket train station, and you’re surrounded by a mix of established corporates, boutique retail and popular eateries. It’s a precinct known for strong performance and steady demand.
“Newmarket continues to evolve,” adds Barragar. “And the zoning here supports that – you’ve got height, intensity and real development potential under the Unitary Plan.”
A strong performer now, with room to grow – 3B Melrose Street is for sale by Deadline Private Treaty, closing 2pm on Thursday 10 July 2025 (unless it sells beforehand).
- Supplied by Barfoot & Thompson
