COMMERCIAL PROPERTY, SALES & LEASING

Investors ready to skip

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THE waterfront office complex home to Melbourne’s famous Skipping Girl Vinegar sign has been listed for sale.

Understood to be the first animated neon sign in Melbourne, “Little Audrey” and her skipping rope was the vinegar brand’s logo, and originally placed atop its nearby factory in Abbotsford in 1936.

The current sign was constructed at its present site – 651 Victoria St – in 1970, Victorian heritage listed in 2007, and restored in 2009, and is a marker of the industrial heritage of Abbotsford and Richmond.

Located within the Victoria Gardens Riverside Precinct, 651 Victoria St is going to market through an expressions of interest campaign managed by CBRE’s Josh Rutman, Scott Orchard and Lewis Tong, in conjunction with Peter Bremner, Rob Joyes and Rachael Clohesy of Colliers, closing 20th March.

Vantage Property Investments is managing the transaction.

“This is a truly unique opportunity to own an iconic part of Melbourne’s historic fabric,” Rutman said.

“It is also buying into a fundamentally sound piece of commercial real estate; a large landholding in a highly desirable locale with a strong income stream and several future options for adding value.”

The four-level office complex of 3,677 sqm sits on a 2,971 sqm landholding with commercial 1 zoning directly opposite the Victoria Gardens shopping centre. It has multiple tenants, an additional laneway and rare 39 metre frontage to the Yarra River.

Developers including Salta, Hamton and Icon have also completed major residential and mixed-use developments in the immediate area.

The Zagame family and Terraplex have also acquired properties in the area recently.

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