Part of the old Echuca Post Office set to go under the hammer
A section of the old Echuca Post Office in northern Victoria is set to go to auction mid December.
The part for sale is a ground floor cafe, currently leased to the Café 3564 Wine Bar & Tapa, as well as upstairs accomodation with two ensuited bedrooms. There's a third ensuited bedroom on the ground floor.
The ground floor comprises an atrium-style function room with an outdoor paved dining space with its own bar area.
Other parts of the building may also be for sale subject to private negotiations, and first right to negotiate will be offered to the successful purchaser.
Making up the other part of the building is a cafe with outdoor seating at the front, four more residences, as well as a ground floor retail space.
On the corner of Hare Street and Anstruther Street, the Echuca Post Office dates back to the 1870s, when the two storey building with a clock tower over the entrance door was built.
The ground floor features a formal entry hallway, a master bedroom with full ensuite, a dressing room and a study/office.
There's a large lounge/dining room with atrium and a timber ceiling design that was formerly the sorting room for the post office. There's also a more modern extension with open kitchen/dining/lounge room with separate laundry/toilet.
Ray White Commercial Oakleigh agent Ryan Amler and Joshua Colosimo are handling the marketing in conjunction with Ray White Echuca's Stephen Morgan for a December 14 auction.
Amler said potential buyers will be blown away by how rare the opportunity is and the income returns that are on offer.
"Put simply, buildings of this calibre and location don't come around very often," he said.
"The Old Echuca Post office, complete with its own clocktower, was constructed circa 1875 and underwent a full refurbishment by the current owners for which they received recognition through the Victorian building awards.
“The 429 sqm part of the building has Commercial 1 Zoning and provides a combined rental return of $60,480 p.a. net with 10 per cent annual increases."
The current freehold premises of the Echuca Post Office has recently sold through Teska Carson.
The property at 227 Pakenham Street is currently leased to Australia Post and is part of Echuca's retail and business precinct.
It comprises a single-storey, double fronted building of nearly 300 sqm on a 440 sqm site zoned Commercial 1.
The property was sold sibject to a five year lease, with a five year option, from July 2015 to Australia Post at $88,056 per annum, with annual three percent rent reviews.