Melbourne CBD Set For First On Site Retail Property Auction For 2026
The Melbourne CBD is set for its first on-site retail property auction of the year, with a blue- chip investment in one of the city’s most sought-after laneway addresses going under the hammer this month as the city experiences a fantastic opening to the new year.

Fitzroys’ Mark Talbot and James Lockwood are marketing 20 Russell Place, Melbourne, with the auction set for Thursday, 26 February at 1pm.

Circa $1.5 million is expected.

The ground floor property is to be offered with a new, secure 5+5-year lease to a tenant trading under their New York City fashion label Knickerbocker returning $75,000 per annum plus outgoings and GST, with annual increased of 4%.

Comprising an immaculate brand-new retail fit-out, the property features timber floors, exposed high ceiling and full-height glazing providing excellent natural light. The layout includes a front retail area with display racks, seating, a central counter with change rooms and storage to the rear, and there is rear access.

“Enjoying an iconic East End laneway address and securely leased to a highly-regarded New York City fashion label, this presents as a secure, blue-chip Melbourne CBD investment,” Talbot said.

“We’re expecting interest from a range of investors attracted to the strong leasing fundamentals and excellent future growth prospects, as well as buyers appreciative of the hugely rare opportunity to get a foothold into this location and who might have an eye to future owner-occupation.”

The Russell Place thoroughfare between Little Collins and Bourke streets has undergone extensive revitalisation, becoming a destination in its own right for boutique retail, dining and nightlife experiences.

It is excellently positioned in the heart of the Melbourne CBD, just metres from world- renowned Bourke Street Mall, surrounded by cafés, bars, and a multitude of major luxury retailers including Louis Vuitton, Bvlgari, Dior, Georges, and more. Premium commercial office towers, and premium hotels and hospitality venues including QT, Hyde, Bar Ampere, Marra-Meo, Gimlet and more, ensuring a constant flow of daytime and evening visitors.

“Character-filled Russell Place really captures the true essence of Melbourne’s laneway culture - atmospheric, and always buzzing with life,” Talbot said.

Importantly, the property is exceptionally well connected, providing seamless access from across the CBD and Melbourne’s suburbs. It is situated within the Free Tram Zone with multiple tram routes operating along nearby Bourke and Swanston streets, and is just a short walk from major transport hubs including Melbourne Central, Parliament, and Flinders Street Stations, and the new Metro Tunnel stations Town Hall and State Library.
Lockwood said, “Melbourne’s CBD has had a great start to 2026, with people returning to the office, the opening of the Metro Tunnel, and the Australian Open and recently-completed developments and new retail offerings bringing in huge crowds,” Lockwood said.

“20 Russell Place is ideally located to capture the growth in activity we’re seeing in Melbourne’s CBD now and into the future.”

The auction follows Fitzroys’ recent successful auction campaign of Niagara House located at 370 Little Bourke Street, which sold for close to $10 million.

First Prime Melbourne Shopping Strip Investment Auction of 2026 Locked In

The first prime – and super-prime – Melbourne shopping strip investment auction in 2026 is locked in for later this month.

Going under the hammer on Wednesday, 25 February at 12pm will be the immaculately-presented double-storey building at 204 Glenferrie Road, Malvern.

Fitzroys’ Tom Fisher and Lewis Waddell are handling the campaign on behalf of a private vendor.

The 137sqm building comprises a modern open-plan ground floor retail space and first-floor office and storage accommodation, on a 149sqm Commercial 1-zoned site with rear access and on-site parking. It is being offered with a brand-new 5-year lease to longstanding, successful tenant Homing Instincts, which has 4 locations across Melbourne, returning $70,000pa plus outgoings and GST.

“This property offers great security, with a strong lease profile, and presents as a true opportunity to invest in the super-prime section of a popular, established and high-performing shopping strip,” Fisher said.

Located in the absolute heart of the strip, the property is surrounded by major national tenants, supermarkets and local retailers including Coles, Dan Murphy’s, Zambrero, Messina, Yo-Chi and more, and services a high-spending catchment of Melbourne's most expensive suburbs in Malvern, Toorak, Armadale and South Yarra.

Glenferrie Road, Malvern was highlighted in Fitzroys’ most recent Walk the Strip report for its strong performance over the past 12 months, owing to its even tenancy mix that attracts consistent heavy pedestrian traffic from the broad catchment.

Excellent access to the property is provided by the directly adjoining rear public car park, trams on Glenferrie Road and High Street, and nearby Malvern train station.

The Victorian Government this week unveiled Glenferrie Road, Malvern as a designated Activity Centre, which will allow for residential buildings of up to 16 storeys to be developed in the area immediately around the strip in the coming years.

Waddell said, “This will provide a major future boost to the existing catchment, underpinning trade prospects for the long-term”.