Waterfront Williamstown shops trade for $1.5m
Two more Williamstown properties – part of the estate of prominent local plumber, philanthropist John Edmund, or JE Patterson, OAM, who died in 2024, have sold.
The adjoining double storey shops, 213 and 215 Nelson Place, collected $1.51 million from a single buyer – a local investor.
With 443 square metres, they were previously occupied by restaurant Cartier Smith Devlin & Co.
The site spreads 578 sqm zoned Commercial 1, also exposed to Aitkin Street.
“Whilst the property was offered with vacant possession and required significant refurbishment prior to re-leasing, the purchaser – an established retail owner – felt the location and underlying land value would drive the asset’s long-term growth and was ultimately prepared to undertake the project,” Stonebridge agents Nic Hage, Ian Lam and Rorey James, said.
Portfolio sell down
Mr Patterson lived in Williamstown 70 years.
His business, Banjo Plumbing, included Australian Glass Manufacturers and Pentridge Prison as clients (continues below).
Also a Justice of the Peace, Rotary member and board member of, amongst other companies, the Peter MacCallum Cancer Centre, Fairfield Infectious Disease Hospital and Prince Henry’s Hospital (now the Melburnian apartment complex), he received an OAM in 2021.
Three months ago, Mr Patterson’s historic family home, 7 Esplanade, Williamstown, traded for $4.05m.
Also in October, the bulk of that residence’s antique collection was offered for public sale.
Not long earlier, the historic Modern Buildings at 217-219 Nelson Pl – next door to the properties which were just offered – sold for $2.73m.
213-215 Nelson Pl is now for lease via Compton Green.
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