Former Fitzroy hostel sells under the hammer for $1.704 million
Strong bidding from residential homeowners, hostel operators and developers saw a former hostel in Melbourne's Fitzroy sell under the hammer for $1.704 million.
The expansive Victorian terrace home, features six-bedrooms, three-bathrooms and offered 330 square metres of space on 285 square metres of land.
For more than 20 years, the 66 George Street property was home to AHL George Wright Shelter.
It was sold with vacant possession to a local private investor.
Colliers International’s Ted Dwyer and Andrew Ryan were the selling agents.
“The property provides an opportunity for someone to turn it into a lavish residential home, but also to continue its use as a hostel or other form of accommodation, or another form of residential development (STCA),” said Mr Ryan.