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203, 204, & 205 Bay Street 3 Office Condos in Port Melbourne
Investment Highlights
- Prominent commercial building located in the heart of Port Melbourne’s Bay Street precinct.
- Includes extensive on-site car parking, a rare amenity in the inner-bayside market.
- Situated in a tightly held precinct with strong demand from investors and occupiers.
- Features multiple strata office suites with flexible configurations to accommodate different occupier needs.
- Excellent connectivity to Melbourne CBD, major arterials, and public transport services.
Executive Summary
Lemon Baxter is pleased to present Suites 203, 204 & 205 at 120 Bay Street, Port Melbourne, an exceptional opportunity to secure a substantial strata office holding in one of Melbourne’s most established inner-bayside commercial precincts.
The offering comprises three adjoining suites totaling approximately 973 m², supported by an outstanding 45 on-site car spaces—an amenity rarely available in this location. Suite sizes include 271 m², 368 m², and 334 m², providing flexibility for occupation or future leasing strategies.
Two of the suites are currently leased to Bondi Sands on net lease terms with fixed 3% annual increases, delivering a strong holding income through to February 2027. The remaining suite is vacant, offering immediate occupation or additional income potential.
Positioned within the City of Port Phillip’s Mixed Use Zone (MUZ), the property allows for a range of commercial and complementary uses (STCA), ensuring long-term adaptability in a tightly held Bay Street location. This combination of scale, income security, and short-term repositioning potential makes this a compelling opportunity for investors, owner-occupiers, and strategic buyers.
The offering comprises three adjoining suites totaling approximately 973 m², supported by an outstanding 45 on-site car spaces—an amenity rarely available in this location. Suite sizes include 271 m², 368 m², and 334 m², providing flexibility for occupation or future leasing strategies.
Two of the suites are currently leased to Bondi Sands on net lease terms with fixed 3% annual increases, delivering a strong holding income through to February 2027. The remaining suite is vacant, offering immediate occupation or additional income potential.
Positioned within the City of Port Phillip’s Mixed Use Zone (MUZ), the property allows for a range of commercial and complementary uses (STCA), ensuring long-term adaptability in a tightly held Bay Street location. This combination of scale, income security, and short-term repositioning potential makes this a compelling opportunity for investors, owner-occupiers, and strategic buyers.
Property Facts
| Sale Type | Investment or Owner User | Individually For Sale | 0 |
| Status | Active | Total Building Size | 10,473 SF |
| Number of Properties | 3 |
| Sale Type | Investment or Owner User |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 10,473 SF |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 120 Bay St, 2nd Floor - Unit 204, Port Melbourne VIC 3207 | Office Condo | 3,961 SF | - | - |
| 120 Bay St, 2nd Floor - Unit 205, Port Melbourne VIC 3207 | Office Condo | 3,595 SF | - | - |
| 120 Bay St, 2nd Floor - Unit 203, Port Melbourne VIC 3207 | Office Condo | 2,917 SF | - | - |
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203, 204, & 205 Bay Street
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