Rare Hardware Lane, Melbourne listing

Rare Hardware Lane, Melbourne listing
Rare Hardware Lane, Melbourne listing

A Hardware Lane freehold retail building has been listed for sale.

The two level space at 60 Hardware Lane is currently home to Italian restaurant Il Nostro Posto and French day spa Le Beau Monde.

It was once the workshop of master jeweller Gary Bradley, who had paid $175,000 in 1984 for what was then a printing works.

Rare Hardware Lane, Melbourne listing

It currently returns a total net income of $139,921 per annum across its 200 sqm of net lettable area.

CBRE Victoria agents Julian White, Nathan Mufale, Alex Brierley and Chao Zhang are marketing the 1872 built property which goes under the hammer October 3.

It is expected to fetch over $4 million.

Rare Hardware Lane, Melbourne listing

They suggest the block will benefit from an increase in foot traffic given the nearby Developments of the new HQ of NAB, a 67 level mixed-use development on Lonsdale Street and a 55 level commercial building at 435 Bourke Street.

The last Hardware Lane sale came four years ago when Campari House, the four level block at 21-25 Hardware Lane, sold at auction for $8.1 million. 

It sold for a record $45,505 per sqm.

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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