Historic Brighton Bay St shops hit market after 90 years

Canva Bay St

After 90 years in the same family, two of Brighton’s best-known Bay St shopfronts are hitting the market, bringing an end to one of the suburb’s longest-held property stories.

The adjoining red-brick buildings at 403-405 Bay St have been in the Johnstone family since 1935, when owner Kevin Johnstone’s mother Veronica purchased 405 after qualifying as a pharmacist and her parents bought 403 the same day.

For nearly a century, the pair have been passed through generations and stood witness to Brighton’s evolution from a seaside village to one of Melbourne’s most exclusive addresses.
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Mr Johnstone said the decision to sell was bittersweet.
“These shops have survived recessions, wars and countless changes in the street,” he said.
“Brighton has been our home for 150 years, and my hope is the new owners continue that story for the next hundred years.”

Two of Brighton’s best-known Bay St shopfronts are hitting the market.

The family’s ties to the area stretch back to 1871, and over the decades the Bay St buildings became a fixture in both their lives and the wider community.

“They’re not just bricks and mortar,” Mr Johnstone said. “They carry memories of every era we’ve lived through.”

Locals have watched Bay St transform in that time, with apartment projects and hospitality venues reshaping the strip.
Yet the Johnstone family’s two shopfronts have remained remarkably consistent, retaining their red-brick character while the street around them changed.

“The street has grown up, but these buildings have always anchored it,” Mr Johnstone said.
“They’ve been part of Brighton’s daily life for generations.”

DBRE Moorabbin executive director James Davie said each property was expected to fetch from about $1.2m, both return about $50,000 a year in rent and are leased until 2026 and 2027.

Each property was expected to fetch from about $1.2m, both return about $50,000 a year in rent.

Mr Davie said enquiry had already been strong from investors and owner-occupiers keen to secure a foothold in Brighton. “You’re buying heritage, visibility and a proven strip directly opposite Coles,” he said. “There’s a major apartment catchment, North Brighton station is a short walk, and you just can’t get into Church St at this price point.”

The DBRE Moorabbin executive director noted the two titles could also be sold together, creating a larger holding rarely offered in the precinct.
“That sort of opportunity doesn’t come up often on Bay St,” Mr Davie said.
“For family offices and locals who’ve been priced out of Church St, this is the next best option.”

The facades are protected under heritage rules, though Mr Davie said sympathetic upper-level extensions could be explored subject to council approval.
“There’s even scope for residential or office space with potential city views,” he said.

The properties are leased until 2026 and 2027.

Beyond their investment potential, the buildings carry layers of local history. Over the decades they have hosted a bakery, a Chinese laundry, a bookshop and even a milliner’s run by nuns who sent their profits overseas to support the poor. In later years, 405 became the Brighton Button Shop — a quirky destination store that drew visitors from across Melbourne for more than 20 years. While 403 has been occupied by florist Pash Flowers for the past 25 years.

Mr Davie said the combination of secure income, prime position and history made the offering especially attractive.

“Brighton’s a blue-chip market these shops tick every box: long-term rental, great location and the prestige of owning part of the suburb’s story,” he said.

The adjoining properties will be auctioned on Thursday October 16, 405 at noon and 403 at 12.30pm, unless sold prior.

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david.bonaddio@news.com.au