An outstanding A-grade investment opportunity in Melbourne’s inner north has hit the market, with the modern showroom, office and warehouse complex at 214–218 Grange Road, Thornbury offered for sale through GrayJohnson.
Positioned within Thornbury’s tightly held industrial precinct, the asset is leased in its entirety to Bastion Cycles, a globally recognised high-end bicycle manufacturer known for its cutting-edge engineering and design. The property comprises four premium units, which have been combined to form Bastion’s flagship showroom, office and warehouse headquarters.
The building presents in as-new condition, offering low maintenance requirements and significant depreciation benefits. Featuring clear-span warehouse areas, high-clearance ceilings, roller shutter door access and sleek glazed façades, it sits on a substantial 3,028 sqm corner site with three expansive street frontages and parking for 30 cars.
GrayJohnson Associate Director Rory White said the offering represents one of the finest industrial investment opportunities currently available in Melbourne’s inner north.
“This is a rare A-grade investment that ticks all the boxes, a high-quality building, a secure long-term tenant and an outstanding location,” Mr White said. “The fact that Bastion Cycles has leased all four units from day one is a testament to the calibre of the development and the flexibility of its design. It’s a first-class investment for those seeking strength and stability.”
With a 10-year lease plus 10-year option from 1 November 2023, and annual rent of $241,775 per annum net as at November 2025, the property provides reliable income growth and strong long-term appeal.
GrayJohnson Director Matt Hoath said the site’s connectivity and location continue to drive demand from both tenants and investors.
“Thornbury has evolved into a hub for innovative and design-led businesses, with easy access to major arterials, parklands and the Station Street retail precinct,” Mr Hoath said. “This property combines modern amenity with an exceptional location just 5 minutes from the Eastern Freeway and 10 minutes from the CBD, a combination that’s increasingly hard to find.”
Expressions of Interest for 214–218 Grange Road, Thornbury close Thursday 30 October at 2pm.
