This article is from the Australian Property Journal archive
FRANCO Cozzo has sold his Footscray furniture store for around $7 million, after more than 50 years at the Hopkins Street site.
The cult figure, known for his “grand sale” and “megalo, megalo, megalo” proclamations in the homely television advertisements for the store, had put the double-storey showroom property of around 2,000 sqm onto the market early last year before quickly withdrawing it.
Zoned Commercial 2, the 54-58 Hopkins Street property encompasses 1,088 sqm and has a 37-metre frontage to Hopkins Street.
Cozzo has also opened stores under his name in North Melbourne and Brunswick.
Melbourne-based developer Pelligra Group is believed to have quietly become the new owner of the site, buying it last month.
Pelligra acquired the 123-hectare Holden site in Adelaide’s Elizabeth last year, on which it plans to develop the Lionsgate Business Park with industrial, commercial and manufacturing tenants.
Australian Property Journal
