286-288 Lygon Street 2,185 SF 100% Leased Retail Building Carlton, VIC 3053 For Sale

286–288 Lygon Street offers an exceptional opportunity to acquire a blue-chip retail investment positioned at the epicenter of Melbourne’s premier dining and lifestyle precinct. The property comprises two titles totaling approximately 224 sqm of land with a substantial 9+ meter frontage to Lygon Street. The improvements include a fully leased retail asset with a net lettable area of approximately 203 sqm, currently occupied by National Australia Bank Limited (NAB), one of Australia’s "Big Four" banking institutions.
This trophy investment delivers a secure income profile of $258,131 per annum on a new 5-year lease expiring in July 2031, incorporating fixed 4% annual rental increases. The net lease structure ensures minimal landlord responsibilities, with the tenant covering all outgoings including land tax (single-holding basis). The strategic CBD-fringe location places the property within immediate proximity to Melbourne University, RMIT University, major medical institutions, and a vibrant hospitality strip that drives consistent high-volume pedestrian activity.
Surrounded by national brand retailers and well-serviced by public transport, this asset combines stability, strong covenant, and capital appreciation potential in one of Melbourne’s tightest-held retail corridors.