CBRE, in conjunction with Killen Thomas, are pleased to offer to market 13A Albert Street (cnr Alfred Street), Preston VIC for sale via our Investment Portfolio Auction 184.

This opportunity has the following key investment highlights:

+ Ten (10) year net lease to the State of Victoria (Environment Protection Authority) to January 2030, plus one (1) further five (5) year option to 2035.
+ Environment Protection Authority (EPA): the State of Victoria’s independent environmental regulator, providing an unrivalled blue-chip government covenant.
+ Fixed 3% annual rent reviews on each anniversary of the lease commencement, delivering reliable and compounding income growth throughout the lease term.
+ Investor-preferred net lease structure with the tenant responsible for all outgoings including council rates, water rates, insurance and, notably, land tax – a feature rarely seen in government leases.
+ 5-Star NABERS Energy Rating – reflecting the building’s high-quality improvements and appeal to government and corporate occupiers with sustainability mandates.
+ Modern three-level corporate office complex with a net lettable area of 1,150 sqm*, incorporating 43 car spaces, lift access, ducted air conditioning and commercial-grade services throughout.
+ Prominently positioned on a 1,855 sqm* corner site with 81.18 metres* of dual street frontage to Albert and Alfred Streets, with exceptional visibility to over 32,000 vehicles passing daily. (1)
+ Situated opposite the Chemist Warehouse national headquarters, within one of Melbourne’s most active and evolving northern precincts.
+ Preston: metro suburb, 8km north of Melbourne CBD with median price of $1,200,000^^ and population forecast to grow 65.46% by 2046. (2) (3)
+ City of Darebin: estimated resident population of 159,963 (2024), forecast to grow to 215,360 by 2041, underpinned by a Gross Regional Product of $8.44 billion* and representing 1.57% of Victoria’s total Gross State Product. (3) (4)
+ Current net income: $422,189 pa* + GST

For Sale by Investment Portfolio Auction
10:30am AEST Wednesday 13 May 2026
Garden Room – Crown Casino, Melbourne

* Approx.
1 GapMaps
2 Realestate.com.au
3 Forecast.id
4 Econony.id