A once-in-a-lifetime opportunity to acquire a true blank canvas in highly coveted East Melbourne is hitting the market.

Fitzroys David Bourke, Chris James and Ben Liu are managing the Expressions of Interest campaign for 179-183 Hotham Street on behalf of a private family that has held the site for half a century.

Located near the corner of Hotham and Clarendon Streets, the exceptionally rare 1,012sqm site is currently vacant and cleared site which is zoned General Residential. The site is well-configured and features rear access via George Street.

“This is a pure blank canvas, a truly once-in-a-lifetime opportunity for a developer or individual to build a landmark residence or residences in East Melbourne, on the edge of the CBD,” James said.

“It’s near-impossible to find vacant land in East Melbourne - most properties are encumbered with heritage buildings.

“This is one of the larger landholdings in East Melbourne, and for it to be presented as a blank canvas makes this a genuinely unique offering.”

Bourke said, “East Melbourne is incredibly tightly held. We’re expecting interest to predominantly come from developers and potential occupiers seeking to embrace the inner-city lifestyle and amenity of the location”.

“This site is moments from the Fitzroy Gardens, a short distance from the MCG and Melbourne’s world-renowned sports and events precinct, and at the doorstep of the CBD with its world-class bars, restaurants, cafés and entertainment offerings.”

Bourke said the attraction of East Melbourne had been demonstrated in recent times with the popularity of projects undertaken by Salta, Mirvac and Orchard Piper, all of which have been well received.

Liu said, “East Melbourne is a remarkable suburb, having retained its character and exclusivity, featuring historic homes and grand Victorian residences, Art Deco buildings, wide streets, and green spaces.

“It also offers plenty of transport options to the CBD and the suburbs, including multiple tram routes along Wellington Parade and Victoria Parade, and Jolimont train station.”

Expressions of Interest close Wednesday, 30 August.