32-36 River Street 2 Properties Offered at $4,422,634 CAD in South Yarra

A rare and versatile opportunity awaits in the vibrant heart of South Yarra. This unique offering comprises two adjacent commercial properties positioned on a substantial 616 sqm landholding. Both sites are being sold together in one line, providing exceptional frontage, accessibility, and future development potential in one of Melbourne's most highly sought precincts.
Currently fully leased, the property delivers a combined annual income of $254,554 across two long-term tenancies, ensuring immediate cash flow security for investors. Beyond its stable rental stream, this high-profile holding offers significant value-add possibilities for developers and strategic buyers seeking long-term upside. Zoned Commercial 1, the site is ideally positioned for redevelopment into retail, office, or a mixed-use scheme (STCA), benefiting from the precinct's strong demand and upward growth trajectory.
Located just steps from Chapel Street, Melbourne's premier lifestyle precinct, the property offers unmatched connectivity with proximity to South Yarra Train Station, multiple tram routes, and major arterial roads. This blue-chip location ensures sustained tenant demand and enduring capital growth potential.