For Sale
LONG LEASE STATE GOVERNMENT INVESTMENT
G02/512-544 Spencer Street, West Melbourne VIC 3003
Vinci Carbone are delighted to present G02, 512-544 Spencer Street, West Melbourne - a premium city fringe commercial investment securely leased to the Department of Parliamentary Services, Parliament Victoria, acting for and on behalf of the State of Victoria.
The property comprises a modern 193 m2* ground-floor corner commercial premises with a combined frontage of 29.61m* to Spencer Street & Stanley Street as well as 2 car spaces on-title.
The investment is underpinned by a new 8-year lease which commenced in August 2025 plus one further 5-year option, with fixed 3.5% compounding annual rental increases providing strong built-in income growth and long term cash flow certainty.
Key Features:
+ Long-term lease to the State Government of Victoria providing investors with exceptional income security
+ 8-Year Lease commencing August 2025 plus one further 5-year option
+ Returning $110,000 p.a. incl Outgoings + GST with fixed 3.5% annual compounding increases
+ Prominent corner commercial premises of 193m2* with exceptional frontage of 29.61m* to Spencer Street and Stanley Street
+ Brand new government completed fit-out with minimal near-term capital expenditure requirements
+ Two secure on-title car spaces enhancing tenant appeal and long-term leasing flexibility
+ Significant depreciation advantages associated with the newly completed fit-out and improvements with low land tax exposure
+ West Melbourne continues to emerge as one of Melbourne’s premier city fringe investment destinations, driven by significant urban renewal, population growth and ongoing infrastructure investment
Combining a secure State Government lease covenant, high-exposure corner positioning, modern improvements and favourable depreciation benefits, G02, 512-544 Spencer Street represents an exceptional opportunity for investors seeking reliable long-term income within one of Melbourne’s most rapidly evolving commercial precincts.
FOR SALE BY EXPRESSIONS OF INTEREST CLOSING WEDNESDAY 24 JUNE 2026 AT 4PM
*approx
The property comprises a modern 193 m2* ground-floor corner commercial premises with a combined frontage of 29.61m* to Spencer Street & Stanley Street as well as 2 car spaces on-title.
The investment is underpinned by a new 8-year lease which commenced in August 2025 plus one further 5-year option, with fixed 3.5% compounding annual rental increases providing strong built-in income growth and long term cash flow certainty.
Key Features:
+ Long-term lease to the State Government of Victoria providing investors with exceptional income security
+ 8-Year Lease commencing August 2025 plus one further 5-year option
+ Returning $110,000 p.a. incl Outgoings + GST with fixed 3.5% annual compounding increases
+ Prominent corner commercial premises of 193m2* with exceptional frontage of 29.61m* to Spencer Street and Stanley Street
+ Brand new government completed fit-out with minimal near-term capital expenditure requirements
+ Two secure on-title car spaces enhancing tenant appeal and long-term leasing flexibility
+ Significant depreciation advantages associated with the newly completed fit-out and improvements with low land tax exposure
+ West Melbourne continues to emerge as one of Melbourne’s premier city fringe investment destinations, driven by significant urban renewal, population growth and ongoing infrastructure investment
Combining a secure State Government lease covenant, high-exposure corner positioning, modern improvements and favourable depreciation benefits, G02, 512-544 Spencer Street represents an exceptional opportunity for investors seeking reliable long-term income within one of Melbourne’s most rapidly evolving commercial precincts.
FOR SALE BY EXPRESSIONS OF INTEREST CLOSING WEDNESDAY 24 JUNE 2026 AT 4PM
*approx
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