Brunswick Charalambous Hardware store listed for sale through Savills

Brunswick Charalambous Hardware store listed for sale through Savills
Brunswick Charalambous Hardware store listed for sale through Savills

The renowned family-owned Charalambous Hardware store in Brunswick has come to market. 

The 1,531sqm property boasts a long and successful history on Sydney Road.

It houses one of the street’s original businesses, established in the 1950s when there was minimal development in the area. 

Savills Australia’s Jesse Radisich, Nick Peden and Benson Zhou are marketing the property at 836-842 Sydney Road.

They anticipated interest in the high $4 million range. 

Mr Radisich said opportunities of such size and scale along Sydney Road were very rarely offered to market. 

“With the favourable characteristics of the site, such as the extensive retail street frontage, valuable rear access and flexible planning parameters, this opportunity is sure to appeal to astute developers,” he said. 

The surrounding projects include the recently completed seven-level project delivered by Pace Development Group

The Pace project includes a new Woolworths supermarket, positioned just 50 metres away. 

Mr Peden said that while the property offered immediate development potential, alternate potential investment, land-banking or owner-occupation options.

The Charalambous family believes the property could be one of few remaining hardware stores of its kind in Victoria.

“The Baby Boomers are moving on and we’re entering a new chapter of investors,” a spokesperson for the family said. 

“Following the growth of retail and large-format giants such as Bunnings, this type of hardware store is just not sustainable anymore.” 

The spokesperson said that the 30-metre street frontage was a result of the family business growing and buying the neighbouring property. 

“It is set up for retail or hospitality in the short to medium term and a beautiful new development in the future,” they said.

Tags: 
Retail Brunswick

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