Melbourne Tramway and Omnibus Company Building Sells

The vacant property on the Docklands border, which sold some months ago and wasn’t settled, was onsold to a client affiliated with real estate agent Ian Robertson, of CRS Solutions, which focuses on commercial and retail redevelopments, sources say.

Mr Robertson was not available when contacted by Capital Gain. Representatives from John H Castran and Sutherland Farrelly, which marketed the building declined to comment on any part of the deal.

The 4-level, 2,889 square metre building, on a 923 square metre block, was developed in 1891 by the MTOC six years after Melbourne’s extensive cable tram system was introduced.

It is not yet known what redevelopment plans are for the property, which includes an original ballroom on the top floor.

Across the road in Docklands, ISPT, CBus Property and Pan Urban are developing the South West Stadium and South East Stadium precincts into mixed use projects incorporating hundreds of apartments.

The Old Tramways Building, as it has come to be known, is next door to the derelict Savoy Tavern pub, opposite DFO. That site which sold to a private developer for almost $10 million in 2005, is also earmarked for redevelopment.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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