One of six apartments which replaced South Melbourne’s former Kingsway Hotel – renovated as part of the 2013 season of TV show The Block – is for sale.
Belle Property is quoting $2-$2.2 million for 201/142 Park Street, which was refurbished by Perth-based contestants Matt and Kim Di Costa.
The couple didn’t win the competition but banked prize money of $250,000 when the full-floor second storey unit sold for $1.455 million at the show’s finale (this figure was calculated as the sale price less reserve).
That purchaser rented it out achieving between $1500-$1600 per week.
It last traded in 2017 for $1.9 million.
A Jackson Pollock inspired renovation of a bedroom in this unit was described by co-judge Neil Whittaker as “a crime scene”.
The apartment includes three bedrooms – one with an enormous walk-in-wardrobe, a butler’s pantry, bar and indoor-outdoor entertaining area with city views.
It also has two car parks and west facing view security, opposite Eastern Reserve.
The Block Sky High was the renovation of a former Central Equity and Uniting Church owned hotel
The seventh series of The Block – marketed as Sky High – tested renovating a multi-level apartment building for the first time (contestants had previously renovated residences within ‘walk-up ‘blocks of flats and detached and standalone terraces).
Central Equity sold the 3.5 star, 40-suite hotel and two neighbouring residential holdings – creating a 2094 square metre site – to the show’s producers.
The building shell was then designed to fit in six flats, each on a level.
Five were renovated and sold as part of the competition – exchanging on auction day for between $1.435-$1.605 million. In following years, three multi-level townhouses replaced a car park formerly adjoining the hotel, fronting Eastern Road.
Central Equity paid The Uniting Church in Australia $6.25 million for 142 Park Street in 2007.
Known as Kingsway Motel, the Residential 1 zoned land was earmarked for a mid-rise project to complement the developer’s nearby Southbank skyscrapers.
It was trading as BizMOTEL when Central Equity offered it for public sale three years later.