Service station owners Avi Silver and Eddie Hirsch have sold an Abbotsford office built into a former shoe factory.
The asset, 198-210 Hoddle Street, was expected to sell for around $10 million following an expressions of interest campaign which agency Teska Carson closed nine days ago. It is speculated to be selling for more than $10.5 million.
On a 950 square metre block zoned Commercial 2, and with 21 car spaces, the asset was acquired by the vendors for $2.6 million in 2007. It includes a 1654 sqm office which is vacant. As such it was marketed to both owner occupiers and investors.
Developed in 1919, the building was originally occupied as the Whybrow’s Shoe Factory which had vacated by 1951, according to the Heritage Council of Victoria.
“As early as 1894, Whybrows were leaders in their field, being amongst the first companies to introduce lasting machines,” HCV noted.