Kindness House for sale again

One of Melbourne’s best located and most unusual inner-city commercial properties has been listed for sale again.

Kindness House in Fitzroy’s Brunswick Street is speculated to be worth more than $15 million.

It is being marketed to investors and developers.

With six ground floor shops and two floors of office space, the property is at the north-east corner of Victoria Street, opposite Naked For Satan.

It is also holding from the Johnston St intersection.

Adjacent to this corner is hotel The Provincial.

Kindness House has the words “Go vegan” painted on its roof (story continues below).

For 25 years prior to last selling in 2014 for $15m, it was controlled by philanthropist and former Citibank vice president, Phil Wollen.

At the time some two thirds of occupiers, including activist groups Save the Wales and Greenpeace, were said to be paying little or no rent (giving it the name amongst agents as ‘the rent-free building’).

However it does derive an income – some $694,000 per annum – from the ground floor shops.

Kindness House sits on a 1045 sqm plot at 276-294 Brunswick Street, two kilometres north-east of the Melbourne.

Colliers International’s Oliver Hay and Matt Stagg with CBRE’s Rorey James and Mark Wizel are the brokers.

Since 2016, Australian Volunteers International sold two adjoining assets in the vicinity for a total of $15.1m. It recently spent $5m on a replacement office in the suburb at 160 Johnston Street.

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Marc Pallisco

A freelance property writer and experienced analyst, Marc is the co-founder of realestatesource.com.au