Footballer’s Northcote apartment site listed by mortgagee

The 1888 London Chartered Bank of Australia building is earmarked to be incorporated into a mixed-use project previously branded 1888, with 23 apartments, four commercial spaces and a multi-level car park accessed off Balgonie Place.

Two historic buildings in central Northcote – consolidated by interests associated with former Melbourne Football Club player Clint Bartram and permitted for a mixed-use but predominantly residential project – are being offered by the mortgagee.

The 1050 square metre Commercial 1 zoned site stretching from High Street to Balgonie Place is expected to sell for more than $5 million.

The holding comprises the imposing 1888 Italian Renaissance style London Chartered Bank of Australia building adjoining a smaller double storey shop and dwelling.

GrayJohnson’s Matt Hoath, Brett Simpson and Rory White are selling the property with a permit the owners obtained for 23 flats, four commercial spaces and multi-level basement car park off the back street.

“This is Northcote’s central heartland with an imposing position on High St, public transport both train and tram adjacent and the Northcote Plaza shopping precinct…nearby,” Mr Hoath said (story continues below).

The suburb is just over six kilometres north of Melbourne.

The listing comes two months after a mortgagee auction of another Northcote property controlled by the entity – 43-47 Simpson St.

Also permit-ready – for three shops and 18 dwellings in a three storey structure – that 783 sqm site traded for $3.3m, a loss on the ($4.1m) price paid last year.

The Northcote development site (outlined) is about six kilometres north of the city.

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Marc Pallisco

A former property analyst and journalist, Marc is the publisher of realestatesource.com.au.

Marc Pallisco