Sales are on at Hardwick, as Cat changes tune
Hardwick building in Sydney road, Brunswick
FIVE retail investments in the award-winning Hardwick Building, in the retail heart of Brunswick, are for sale by public auction this Thursday from noon on site. All five properties are to be offered by Fitzroys separately with a mixture of long and short-term leases to established retailers. These include art supplies retailer Deans Art on a five-year term, fashion retailer Ruby Patootie, boutique homewares and gifts retailer Melody Nelson, clothing and accessories retailer and gallery OK OK and wedding cakes retailer Jessicakes.
It's confirmed that Fitzroy's The Night Cat, home of one of Melbourne's best-known live music venues, is to change hands. The sale was first reported last week in Capital Gain. Colliers International and CBRE, under instructions from receiver and manager PKF chartered accountants and business advisers, will auction the venue at 137-141 Johnston Street on May 24 at noon on site. The popular venue, which has been operating for the past 15 years, was expected to attract bids of between $3.2 million and $3.5 million. While the current tenancy to The Night Cat was short-term (until January 2014), selling agent Jeremy Gruzewski said the proprietor had indicated strong intentions to continue trading as The Night Cat for many years to come and was willing to talk directly with any interested party.
A beautiful property in historic Eaglemont Village is on the market. Eaglemont Cellars at 82-84 Silverdale Road, which has development potential, currently returns $80,000 through two leases. Christou & Co will auction the property on June 2 at 11am.
In Collingwood, a two-level building comprising a showroom, display or retail space at street level and offices above 69 Victoria Parade is for sale. It will be auctioned by Gray Johnson on May 24 on site at 3pm. The property, which will be offered with vacant possession for the first time in 25 years, is well known as the home of The Cricket Shop and Swan Richards' Crusaders cricket team.
Gross Waddell is to sell 171 Smith Street, Fitzroy, on behalf of VACSAL (Victorian Aboriginal Community Services Association Ltd), which is relocating to Northcote. Situated on the corner of Smith and Webb streets, the historic property is a former NAB outlet and comprises a two-level building. Select Architects has developed concept plans for a residential development on the rear land.
A small property comprising a retail shop with adjoining residence in the strong Warrigal Road, Chadstone, precinct will be auctioned by Crabtrees Real Estate on May 17 on site at 1pm. Expected to attract bids towards the $300,000 mark, the property is a single shop-front property at 45 Batesford Road, Chadstone, which has traded for many years as a convenience store.
A property in Kew East will be sold by executor's auction through Allard Shelton. The property, in the tightly held Harp Village precinct and leased to automotive repairer Midas, will go under the hammer on May 23 at noon on site.
In Fitzroy, Allard Shelton is also auctioning 5-7 Smith Street under instructions from the Department of Treasury and Finance. The improvements on the site comprise a three-level, mainly brick office building with reception/office, with the remaining two levels comprising fitted office accommodation.