Brunswick ground floor salon of designer Mariana Hardwick on the auction block

One of Australia's most exclusive bridal wear designers, Mariana Hardwick, has put the ground floor salon and first floor of her landmark Hardwick Building in Melbourne's Brunswick up for auction next month. 

Up for grabs is a ground floor bridal salon of about 375 square metres, a first floor atelier plus additional office spaces of around 875 square metre and air rights for a total of about 1,250 square metres.

The sale also includes Lot N, which is about 950 square metres and is located above the first floor of the main buildings. The inclusion of that lot, said selling agents Fitzroys, provided the purchaser with the
opportunity to undertake further development in the future (STCA). 

The property is offered subject to a long lease over 1,065 square metres of the ground floor and first floor to Mariana Hardwick, potentially until 2032. The lease structure is 5+7+7 years from 1 August 2013.

Around 135 square metres of the first floor is leased to typographic studio Letterbox on a five year deal starting on 15 October 2013.

The current combine returned rental is estimated at $250,000.

The property will go under the hammer on 16 May through Fitzroys agent James Gregson.  

The history of the two-level building stretches back until 1907 when it began as the Hoopers Drapers store. After a succession of owners including Waltons and Spotlight, Mariana Hardwick acquired the Hoopers Building in 2005 as a new location for her salon. 

Gregson described property as a "high yielding investment" which was expected to return about 8-9% to the purchaser.