Trophy warehouse converted office for sale, Melbourne
A warehouse converted office, developed in the late 1880s for bootmaker Charles Trescowthick, who employed more than 250 people, is for sale with a leaseback over two thirds.
The Clifton Hill building, 24 Groom Street, carries c$7 million price hopes.
Recently refurbished, it contains 925 square metres over three floors.
The ground and first level are leased.
The penthouse, fit out as an apartment, can be occupied or rent out by an incoming owner.
The potential fully let annual income is just over $400,000.
“This is more than an office building,” Aston Commercial’s Jeremy Gruzewski, who is marketing the property with Angus Parnham, said.
“It is a story of Australian craftmanship and resilience that has been beautifully reinterpreted for modern use,” he added.
“You can feel the legacy in the brickwork, but everything about it now looks ahead. It is efficient, inspiring and built to last another hundred years,” according to the executive.
24 Groom Street
Also for years occupied as the commonwealth government’s Harness and Saddlery factory, and, between 1973-2019, NCI Packaging’s headquarters, Mr Gruzewski said the refurbishment highlights original features including exposed brickwork and polished floorboard.
The offices are fit out with open plan layouts, according to the executive.
The top storey can be utilised for commercial purposes, he added.
All floors are also accessed via a passenger or goods lifts.
“The property generates income from established tenants, provides seven secure onsite car parks and enjoys immediate access to key transport links including the Eastern Freeway and Clifton Hill Station,” Mr Gruzeweski said.
“The elevated upper levels capture sweeping views across the Melbourne CBD skyline, a fitting outlook for a building that has seen more than a century of change,” he added.
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