Schot family sells redundant Clifton Hill warehouse

63-69 Noone Street, Clifton Hill, sold a week after agents closed an expressions of interest campaign.

The Schot family has sold a Clifton Hill warehouse occupied for its Schots Home Emporium business, for a speculated price of about $5.2 million.

On 1230 square metres of Commercial 2 zoned land marketed for its redevelopment potential, the 1888 square metre building is trading to another owner-occupier.

The site at 63-69 Noone Street (pictured top and left) backs onto a train line between Clifton Hill and Victoria Park stations, not far from the intersection of Hoddle Street and the Eastern Freeway.

It was offered with a short-term leaseback to the furniture retailer which two years ago relocated its warehouse functions to a 12,000 sqm facility in Corio Quay Road, North Geelong.

Teska Carson directors Matthew Feld and Michael Taylor marketed 63-69 Noone Street for the Schot family. The brokers only closed an expressions of interest campaign for the property last week.

Schots Home Emporium will continue to trade from its prominent Hoddle Street, Clifton Hill outlet, near to Noone Street. It also recently opened a store in Moorabbin, on part of a site formerly occupied by Philip Morris.

Marc Pallisco

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

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