Fitzroy’s Acme factory sold, set for development
The Jacka family has sold the prominent Fitzroy warehouse converted office since the 1990s home to the Southern School for Natural Therapies.
Developers, B&B Property Group, led by Stephen and Ben Buxton, and Pacasa, directed by Stefano Paciocco, are the buyers of 25-37 Victoria Street, the late 1880s ex-Acme Shirts factory, for a speculated $20 million.
An application has been lodged for 57 apartments – 81 per cent with two and three bedrooms.
The bulk of units (41) would be in an eight level structure dubbed Building B. Sixteen flats will be configured with two bedrooms here. Another 19 will contain three bedrooms. This complex is also designed with two penthouses.
Another structure, Building A, incorporating part of the existing structure, will contain 16 dwellings, four with three bedrooms.
Three townhouses also form part of the proposal, which bypassed the City of Yarra, and will be decided by the state government, care of its Development Facility Program (continues below).
Colliers’ Matt Stagg, Ryan Milivojac, Ben Baines and Yvonne Zhou were the agents for Peter Smyth Untitled Property marketed 25-37 Victoria St, on 1506 square metres.
SSNT co-creators, the late Judy and Ash Jacka, outlaid $1.53m in 1996.
Blackmores chief Maurice Blackmore was another founder, in 1961.
The sale comes nearly two years since we reported another Andrew Buxton backed developer, Valli, bought a Fitzroy site, on the north east corner of Brunswick and Cecil streets, zoned Commercial 1, able to yield a c11 storey apartment complex.
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