Shop-front homes

This type of home is, without a doubt, the coolest property you can buy!  I think so anyway.  The article below is all about Melbourne but all you have to do is take a drive around Highgate or Mount Lawley to find similar. Like over east, they always sell within hours!  Wayne H.

photo

With the Melbourne residential real estate market in a frenzy, shop front homes are gaining popularity. “Across the inner areas of Melbourne, these shops are increasingly being converted to residences and are passed on to future generations to live in and enjoy,” says Real Estate Institute of Victoria CEO Enzo Raimondo. “They are popular for their historical value and often long-term connection to the local community.”

The largest independent agency in the Inner West of Melbourne, Compton Green, recently listed a shop front home for sale in 142 Stephen Street, Yarraville. The shop front used to operate as a newsagency between 1883 and 1898, once belonging to Yarraville pioneer, James Palmer, and now functions as a living area in the three bedroom residence. It will be auctoned at 12pm on August 1. Compton Green is quoting $850,000 to $950,000.

In March 2015, Compton Green sold a 110-year-old shop front Victorian terrace situated at 70a Victoria Street, Footscray. Formerly a butcher shop, this property attracted a vast amount of interest throughout its campaign and sold at auction for  $735,000.

“For buyers who are willing to undertake the conversion, they can represent an investment gem – in that buyers with the right skill set can add significant value to properties,” says Raimondo.

PERTH_Lincoln 102 Cafe_LR_P1300286

 

main photo - thanks Compton Green.
second photo - Lincoln's Cafe Highgate WA