This article is from the Australian Property Journal archive
LIFELONG Blues supporter and Carlton club president Mario Lo Giudice’s Banco Group has quietly sneaked into rival Magpies’ hometurf, by snapping up a heritage Old Collingwood Boot Factory in Melbourne’s inner city.
The 1,336sqm two-storey building at 64 Wellington Street and 14 Glasgow Street was sold across two titles, with the brick buildings offering three street frontages in Collingwood’s commercial precinct.
The Old Collingwood Boot Factory is also listed as significant on the Victorian Heritage Database and provides a holding income to 2025.
Dylan Kilner, Max Warren, Julian White and Chao Zhang from Stonebridge managed the sale via an expressions of interest campaign, which generated more than 150 enquiries and seven contracts secured.
“Ultimately, we were able to secure interest from developers, investors, value-add buyers and occupiers,” said Warren, associate director at Stonebridge.
“All were assisted with aggressive rents, creative sub-division ideas and town planning advice (supplied by our team) to get comfort on the building’s heritage restrictions.”
The Stonebridge agents declined to comment on the sale price, which industry sources indicate was around $9 million.
