Abbotsford’s Home of Skipping Girl Comes to Market

While the neon sign, known as Little Aubrey, has long defined the site’s identity, the opportunity for incoming capital is grounded in its flexibility, according to agents Cushman & Wakefield, who, along with Colliers, are offering the asset via an expressions-of-interest campaign.

“The existing office provides immediate income and occupancy potential, while the underlying landholding and Commercial 1 zoning support a range of future development outcomes,” they said.

Originally built in 1937 as an electroplating factory, the building was extensively renovated and redeveloped into its current multi-storey office complex layout in 1989.

The sign was designed in 1936 for the Nycander factory at 627 Victoria Street to promote its Skipping Girl brand vinegar. When the factory was demolished in 1968 the sign was removed but replaced with a reproduction in 1970, following a public outcry, on its present site.

The asset last changed hands in December of 2021 when it was sold off-market to the Orled Property Group for an estimated price of more than $20 million.

The sale is being handled by Cushman & Wakefield’s Daniel Wolman, Hamish Burgess and Joe Kairouz, in conjunction with Colliers’ Alex Browne and Ben Baines.

The agents said it was clear that opportunities that combined holding income with genuine redevelopment upside remained scarce across Melbourne’s inner-east, particularly in locations offering connectivity and lifestyle amenity.

▲ The original Skipping Girl sign was removed in 1986. Public outcry led to a replica being erected on its present Victoria Street site.

Wolman said the campaign was expected to attract a broad mix of buyers seeking to deploy capital into well-located, repositioning opportunities.

“We’re seeing strong interest from private investors, syndicators and developers who are focused on assets that offer multiple value creation pathways, particularly those with the ability to generate income in the short term while retaining longer-term development optionality,” he said.

“The site’s position within a proven high-density corridor, as well as its proximity to Victoria Gardens and the Yarra River parklands, strengthens its appeal to occupiers and future end users”.

Browne said the asset’s fundamentals underpinned its significance beyond its landmark status.

“What sets this opportunity apart is the combination of scale, river frontage and flexibility. It’s a site that can support a high-quality office repositioning in the near term, while also offering the scope for a more substantial redevelopment over time,” he said.

“As Melbourne’s city-fringe markets continue to tighten, assets that offer both immediate utility and long-term transformation potential are increasingly sought after, placing the Skipping Girl site firmly in focus for a wide spectrum of capital”.

The expressions-of-interest campaign is due to close May 28.