If you’ve been looking for an opportunity that comes around once in a “Blue Chip” moon then this is the one.

Located on one of the very best streets in Fitzroy North this premise was first constructed as a single storey Publican bar in the late 1800s’ and has now been turned into a dual storey building now with a Residential 1 Zoning making it full of endless future possibilities.

Since being redeveloped and renovated 230 Rae Street now boasts 336sqm (approx.) of internal space that now provides options never before considered, an apartment block, palatial inner city residence or dual single level dwellings. Added to the already extensive changes, the premise has an underground cellar from its Publican days (currently enclosed) and an ability to create a roof top terracing with views looking back onto Melbourne’s city scope.

With off street parking possibilities for 4 vehicles, reverse cycle heating/cooling, dual level kitchenettes and toilets, R.O.W access and an approximate $36,600 per annum return, this is an opportunity that you’ll hold your breath for till your “Blue” in the face.