Silk mill trophy loft-style apartment in Abbotsford sells

A converted warehouse loft-style apartment in Abbotsford has sold after auction in the mid $800,000 range. 

The property went to recent auction with a price guide of $800,000 to $870,000 but passed in.

After negotiations with a bidder, it sold the next day at an undisclosed price.

Located in the former BYFAS silk mill building at 8 Trenerry Crescent, the BYFAS lofts were the first stage of the Yarra Falls development.

The apartment is one of 38 apartments and includes two bedrooms, two bathroom and five-metre high ceilings. 

The property also features timber flooring and polished concrete, an entertainer’s balcony and access to a communal gym.

The circa-1937 BYFAS silk mill manufactured parachute silk during World War II.

The Yarra Falls Mills was established in the 1900s and included a wool weaving mill and the Austral Silk and Cotton Mills.

The apartment last sold in 2007 for around $560,000.

The median apartment price in Abbotsford is $520,000, a 16.9% growth in the past five years, according to RP Data.

The property was listed with Justine Harris and Ken Griffith of Hockingstuart Richmond.