Three Sites at South Melbourne’s Iconic Clarendon St Corner up for Grabs

Three iconic retail spaces on a prominent South Melbourne corner are now up for grabs. Clarendon St is well-known among locals for its shopping and food precincts and heritage overlays, with the corner at No. 360-362 listed with Burgess Rawson Melbourne for upwards of $4.55m. The agency has also listed No. 356 and No. 358 on the same strip, with minimum price hopes of $1.8m and $1.9m respectively.

All three properties are being auctioned at the agency’s 152 portfolio auction at Melbourne’s Crown Casino on May 11, with up to 30 properties set to go under the hammer on the day. Burgess Rawson Melbourne’s Beau Coulter is confident the properties will sell, particularly due to their convenient proximity to the casino, South Melbourne Market, the Grand Prix circuit and local shopping centres. “It’s likely that it could be one buyer for all three,” he said. “Someone will probably go for 360-362 and then look to purchase the other two as well.” The former, on a 262 sq m land footprint, comprises five longstanding tenants. On the ground floor lies the iconic South Melbourne Fish and Chip store, plus Relief Unit. 1 cafe, Good Barbershop and Chiill Sports. One the top floor is an office space, currently occupied by GoSwitch energy suppliers. The ground floor at No. 356 is host to the South Melbourne Bakery — another icon in the suburb’s vibrant food scene. Upstairs is a residential apartment.

And at No. 358, Yellow Brick Road Home Loans occupy the ground floor, with a vacant office space on the second storey. Mr Coulter said the agency has had good interest in the properties thus far, which was “to be expected given the location.” “There’s been a lot of interest from investors but also future owner-occupiers for the retail spaces,” he said. “This really speaks to the strength of the location and also how the retail strip is bouncing back after Covid.”