Secure Mixed-Use Income Stream
Lemon Baxter is pleased to present 518 Malvern Road, Prahran — a fully leased, mixed-use freehold located within the tightly held Hawksburn Village retail precinct along Malvern Road.
The property comprises two independent income-producing tenancies: a ground floor retail shop occupied by Fedele Jewelworks — an established jeweller with approximately 20 years of continuous tenure — and a first floor residential apartment. Together, the two tenancies deliver a net passing income of $84,420 p.a. *, underpinned by a freshly renewed three-year commercial lease with fixed 4% annual rent reviews through to April 2029.
Key investment attributes:
– Dual income stream (retail + residential)
– Strong underlying land value in a tightly held strip retail location
– Long-standing retail tenant providing income stability
– Built-in rental growth via fixed annual increases
– Flexibility through residential tenancy and future repositioning potential
– Rear car parking included
– Surrounded by Chapel Street, Prahran Market and premium inner-south amenity
The Malvern Road retail strip is one of inner Melbourne’s most enduring and tightly held lifestyle corridors, underpinned by a dense and affluent residential population and consistent long-term occupier demand. Opportunities to secure mixed-use freeholds of this nature within the precinct are rare.
Offered for sale via Expressions of Interest closing Wednesday, 3 June 2026 at 12PM (AEST).
Contact our exclusive selling agents below for more information.
*Approximately
