Vacated East Sydney art space Watters Gallery to go under the hammer

The closed Watters Gallery building in East Sydney has been listed for the first time in more than five decades. 

It goes to March 14 Colliers auction.

The three-storey Victorian corner terrace was built in the 1850s.

It saw many exhibitions by many top artists, including Reg Mombassa.

Its long-time owners, Frank Watters and Geoffrey and Alex Legge, are retiring and moving to the country.

Colliers agent Miron Solomons said the gallery opened in 1968.

"It would be ideal for a really cool creative as a corporate HQ and is ready to be transformed into something a little bit unique," Solomons said. 

There is buyers’ interest above the $5 million mark for the 578-square-metre freehold building at 109 Riley Street, on the corner of Stanley Lane in East Sydney.

There is 578 square metres of space is the gallery that closed in 2018.

Solomons said it was originally the site of a boot warehouse in 1858.

It became the Victoria Hotel between 1863 and 1870, and from 1871 The Harp of Erin Hotel.

In 1921 the building was used as a shop with the flat above and then altered in 1968 to accommodate the gallery.