438/58 Franklin Street

High-Demand CBD Car Space: Secure, Income-Producing Investment

A rare Level 4, 438 car space offering fast access, strong rental demand, and a secure corporate lease. Perfect for investors seeking stable income or owner occupiers wanting added value, protected, convenient CBD parking. With Melbourne City Council increasing CBD street meter rates to $7.30/hr from July 1, and commercial operators lifting daily rates, secure off street parking ownership is becoming significantly more valuable.

Key Features:
- Premium Level 4 Position: Quick entry/exit with minimal ramp time, outperforming upper level spaces.
- Side Pillar Protection: useful visual guide for parking straight, reducing door ding risk and offering a safer, more private parking experience.
- Secure Corporate Lease: Leased to CBDPark Pty Ltd at $228/month until Sept 2026, providing guaranteed, hassle free income.
- Strengthening Rental Market: Private rentals in the precinct typically achieve $280+ /month, with upward pressure from rising CBD parking fees.
- The Perfect Owner-Occupier Asset: Ideal for residents in surrounding towers who are looking to instantly add significant resale value to their apartment.
- Congestion Levy Advantage: Potential full ($0) SRO levy exemption for eligible owner occupiers and tenants.
- Prime CBD Location: Steps to State Library Metro Station, RMIT, QVM, and major residential towers.
- 24/7 secure access with surveillance and swipe card entry.

Outgoings
Council Rates: $95.75 per quarter approx.
Water Rates: $69.50 per quarter approx.
Owners Corporation Fees: $189.00 per quarter approx.