Floridia Italian Social Club lists historic former Kensington Masonic Lodge

The former Masonic Lodge is configured with a bar and dining area on the ground floor.

The Floridia Italian Social Club has listed for sale its long-time Flemington base.

The historic property (pictured top, left and bottom), built in 1913 as the Kensington Masonic Lodge, but occupied for more than 40 years as the Floridia Club, is expected to sell for between $4 million and $4.5 million.

Broker Holly Owen of agency WEast is marketing the site’s potential to be redeveloped by someone “with the correct vision” into “something special” – presumably a residential complex with ground floor retail.

Alternatively, the site could be retained as a hospitality venue and commercial investment. It is configured with a bar and large dining area downstairs beside a kitchen. An upstairs studio, spreading 180 square metres, is currently leased to a hairdresser.

The upper storey has the potential to be extended and repurposed, possibly as an office space.

At 9 Wellington Street, the Floridia Club site is near from the former Quiet Man Irish Hotel on Racecourse Road which is earmarked for an apartment complex after controversially selling to a builder for about $4 million in 2016.

Last month on nearby Stubbs Street, boutique builder United Asia Group, directed by Nicole Chow, paid Vision Australia a speculated price of more than $30 million for an industrial site now earmarked to make way for a luxury apartment project.

A 3986 square metre site near to this – 88 Stubbs Street – is also for sale and expected to sell for about $15 million following a campaign by Beller Commercial.

Last week we reported that three industrial sites covering 415-423 Macaulay Road, Kensington, are the subject of a residential redevelopment application. If approved this block could make way for an eight-storey complex containing 41 dwellings.

The upper-level of the building is leased as a hairdressing studio.

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Marc Pallisco

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