Footscray's 501 Reception Centre offered for sale

One of Footscray's most well known buildings - The 501 Reception Centre, in Melbourne is being offered for sale.

The property has been owned and operated by the Acquaro Family and trading since 1980.

The offering includes three titles with a land area of 6,271 square metres and a building area of about 3,000 square metres. It also includes five function rooms catering up to 1,160 people and has over 60 car parks.

The 495-507 Barkly Street centre is being offered with a planning permit for a five-level retail and residential development. 

The expressions of interest campaign closes on 27 May through Fitzroys agent James Gregson.

Gregson said the property’s flexibility in terms of both development and owner occupier/investor perspective was outstanding, and being in a such a growth area so close to the CBD presented excellent value and potential.