A rare Melbourne community hall has turned plenty of heads in the lead-up to its auction this weekend.
Boasting a fantastic 652sqm corner block in the city’s inner-western suburbs, 40 Myall Street, Braybrook, is enjoying plenty of interest from developers and first home buyers alike.
According to Compton Green Williamstown auctioneer, Gerard Hannan, the hall’s large block and location within 10km of the CBD ensure it is a winner.
Its residential zoning and the opportunity to build multi-residential townhouses of up to two levels (STCA) or convert the property into a home and live there adds to its big appeal.
The property also features a kitchen, two separate powder rooms, and storage sheds.
“It’s really rare for a property like this and on a corner block to become available,” Gerard says.
“I’ve got developers looking at the property from Collingwood and others from Northcote.
“They’re thinking of knocking it down and putting three to four townhouses there.”
Gerard says even the community hall’s age is not deterring potential buyers.
“It’s owned by the Society of Christian Doctrine who over the years have been hiring it out to different community groups and using it as a gathering place,” he says.
“It’s vacant right now as COVID put a bit of a stop to that … but before COVID hit, absolutely it was being used.”
Last sold for $83,000 in 1997, soaring prices in the increasingly popular area now has the hall priced at $700,000-$770,000.
Gerard Hannan admits to remembering a time when Braybrook – and nearby Footscray in particular – were more memorable for furniture salesman Franco Cozzo’s classic 1980s ads.
“Even in Yarraville and Seddon, people wouldn’t touch (these places) with a barn pole,” Gerard explains.
“But now West Footscray is actually unaffordable, with homes in Footscray going for almost $2 million.
“There are all hipsters there and it’s going to have great capital growth just for its proximity to the city.”
The hall will go to auction at 10am on Saturday, February 19.
40 Myalla Street, Braybrook, Vic 3019
0412 214 843
0420 904 617
Compton Green Williamstown