This article is from the Australian Property Journal archive
BOTTLE shop Vintage Cellars has opened a new flagship store in Carlton after leasing the ground floor of the National Trust listed building.
Fitzroys associate director Chris James negotiated the six-year lease with options at $130,000 per annum.
Located at 259-261 Lygon St Carlton, it was constructed in 1873 in a Renaissance Revival style designed by renowned architect Lloyd Tayler. It was most recently home to the Commonwealth Bank.
The distinctive arched windows previously blacked out for the bank’s ATMs have been reinstated with clear glazing.
James said Vintage Cellars demonstrated their faith in one of Melbourne’s most famous locations by signing a long-term lease.
“The current COVID environment was not a deterrent. Discussions for this property have been ongoing for some time and the lease was finalised during the current stage four lockdown.
“Operators are anticipating the return of inner-city activity. Lygon St is a popular lifestyle destination for Melbourne’s densely-population inner north, which will be given a further boost over time with the return of visitors from across Melbourne, tourists, and the 50,000 local and international students that attend Melbourne University and RMIT.” James said.
