Boutique warehouse in Melbourne's Cremorne to fetch $1 million

A boutique warehouse property at Cremorne (Richmond) in Melbourne’s inner eastern suburbs is up for auction on November 18.

It is expected to fetch around $1 million.

Set at 90 Stephenson Street, the warehouse is 100 metres from Balmain Street, within easy reach of public transport.

It comprises a single level, 200 square metre, solid brick, factory/warehouse on a 200 square metre site zoned Commercial 2, under the City of Yarra planning scheme.

The warehouse has frontages to Stephenson Street and Gwynne Street.

"The property is in a great location and would suit an owner-occupier seeking a conveniently located boutique warehouse, or an investor looking to capitalise on the demand for one of the last industrial property precincts within a short tram ride to the CBD," said listing agent Matthew Feld of Teska Carson. 

"It would also suit a developer interested in the potential to add value in this well-regarded location.’’

Cremorne lies in the south-western corner of Richmond and adjacent to Melbourne’s premier sporting facilities including the Rod Laver Arena and the MCG.

The property will be sold with vacant possession.