Strong Rent with Development Potential

Rarely does an asset emerge with immediate returns with blue-chip development upside. Positioned in the heart of a thriving activity precinct, 213-215 Blackburn Road represents a premier acquisition for the astute investor and the strategic developer alike.

This significant 1,017 m² landholding, zoned Commercial 1 (C1Z), is currently anchored by a high-performing premium hospitality tenant, delivering a robust net income with structured annual growth.

Investment Summary
• Net Annual Income: $245,000 p.a. + GST as of October 2026
• Built-in Growth: Fixed 3% annual rent increases
• Secure Lease Structure: Term expiring October 2028 with further options
• Low-Overhead Asset: Net lease with tenant paying all recoverable outgoings (excl. Land Tax)
• Strategic Landholding: 1,017 m² of prime Commercial 1 Zone (C1Z) land
• Unrivalled Connectivity: 300m to Mount Waverley Station; 2km to The Glen Shopping Centre
• Future Upside: Development clause embedded in the lease to facilitate long-term planning

For the Visionary Developer: Get Paid to Plan

Capitalise on the "land-bank" opportunity of the year. With a substantial passing income to offset holding costs, you have the breathing room to design and permit a landmark mixed-use project. The site's favourable zoning and proximity to transport support a high-density vision of 6+ levels (STCA).

Elite Tenant Covenant

The property is home to a renowned destination restaurant specialising in premium live seafood and Cantonese cuisine.
• Proven Patronage: A destination venue attracting consistent foot traffic from across Melbourne
• High Exposure: A landmark street presence with excellent brand visibility
• Professional Operations: A long-standing, reputable business known for quality and reliability

Private Sale
To request a comprehensive Information Memorandum or to arrange a private inspection, please contact the exclusive agents.

Will Jonas
0422 883 011
will.jonas@raywhite.com

Ryan Trickey
0400 380 438
ryan.trickey@raywhite.com

All information about the property has been provided to Ray White by third parties. Ray White has not verified the information and does not warrant its accuracy or completeness. Parties should make and rely on their own enquiries in relation to the property.

Due diligence checklist for home and residential property buyers.

Inspections

Explore the area

View in Google Maps

Find out how much home loan repayments will be

It’s important to understand repayment amounts before you apply for a home loan. A Loan Market broker can compare over 100 lenders to find the right loan for you. Use the Loan Market calculator to get a better indication of repayments.

Loan Market Pty Ltd | Australian Credit Licence 390222. All interest rates stated must include "p.a." and the relevant Comparison Rate in full.