This article is from the Australian Property Journal archive
AN historic Clifton Hill property used a century ago to manufacture equipment for the country’s armed forces has been sold to a boutique residential developer for $4.8 million.
Gray Johnson’s Brett Simpson, who sold sold 24 Groom St, said the buyers are keenly seeking City fringe former industrial properties of character for residential conversion.
The three level red brick building of 925 sqm is on a corner site of 340 sqm and includes seven off street car parks.
The vendor had recently completed stripping out the former commercial offices, exposing timber beams, ceilings and floors, and brickwork. Simpson said the works created an opportunity for a single floor repurposing for residential apartments, or use as a larger town residence, as well as adding mezzanine space.
The Department of Defence took over the building in September 1911 and 24 Groom St became home of the Commonwealth Harness, Saddlery and Leather Accoutrements Factory, with an occupancy that extended until the late 1920s as a manufacturer of equipment for the armed forces.
During this period, it provided of harness equipment for the Battle of Beersheba and other major World War I military campaigns, and a commemorative plaque on the building’s façade acknowledged the contribution the building made to the Australian Military Forces from 1912 to 23.
In the 1930s the building became the Bourke & Cooke boot factory, before Zig Zag Paper took over manufacturing their roll-your-own cigarette papers at the site. National Can Industries bought the site in 1973 to manufacture its tin can packaging, and after the closure of the manufacturing continued to occupy the building as their corporate office until recently.
Gray Johnson’s Brett Simpson said that privately owned building holds a mixed use zoning with city views able to be accessed from the property’s location that is just off Hoddle St and with access to the Eastern Fwy.
The property has two street frontages of 16 metres to Groom St and a side frontage to Yarrabing Ln of another 25 metre.
Simpson said the property is the “type of unique and highly accessible City-fringe property opportunity offering a unique character that has all but disappeared from the market under the strong demand for residential conversions, or even boutique office uses”.
“As a building that has stood on this site for about one hundred and nineteen years it stands ready for creative ideas and an architectural repurposing to capitalise on its history, ideal location and to meet the strong market demand for in this outcome city fringe residential.”
