Converted Prahran warehouse listed by Ben Buxton

A converted Prahran warehouse belonging to design and communications agency Grenade founder Ben Buxton has hit the market.

Buxton’s father is Melbourne property developer and Rich Lister Michael Buxton.

The two storey property at 2 Macquarie Street is on a 306 square metre site and has 473 square metres of office space.

Features include five car spaces, polished concrete floors, exposed steel trusses and beams, and strategically positioned skylights which, paired with the steel framed windows, provide all around natural light.

The property currently has short term leases generating $119,051 per annum with scope for improvement, according to marketing agents, Teska Carson’s Jack Kelliher and Matthew Feld.

“This is a proven commercial and residential location that’s underpinned by arguably the best lifestyle amenity Melbourne has to offer and that is going to attract a broad range of buyers,” Kelliher said.

“The combination of short term income with the flexible Activity Centre 1 Zoning provides fertile ground for a variety of mixed-use development options to be explored, but the property also has much to offer owner-occupiers and investors especially in terms of the location.”

The proximity to the Chapel Street retail strip is advantageous, Kelliher said.

“The area is also well served by public transport with Prahran and Windsor railway stations, both within walking distance, and tram lines along High and Chapel streets, while Dandenong Road and Punt Road provide access to Melbourne’s freeway network.

Kelliher said the area’s popularity had been underlined by the significant residential and commercial development within the immediate vicinity in recent years. 

“The local area has seen continuous development in recent years due to the first rate amenity, the close proximity to the centre of Melbourne, and Melbourne’s strong population growth.

“These factors, along with historically low interest rates, will continue to drive demand, development and investment in this area for the foreseeable future.”

The property will be auctioned on Friday, May 24 at 1pm on site.