Pascoe Vale’s home of ‘pastizzi’ to be sold after 38 years
A pastry shop in Pascoe Vale is heading to auction for the first time in 38 years.
Anthony’s Pastizzi store at 4/1 Pascoe St has sold the renowned Maltese pastizzi— a savoury pastry — to the community since it opened in 1980.
The popular outlet will now be auctioned on August 1 with price hopes of $420,000-$450,000.
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The sale of the 100sqm shop, which is in a Commercial 1 zone, includes a five-year tenancy for the family business, according to Walshe & Whitelock sales agent Jane Sowersby.
“With the lease attached to the sale, we’ve mainly had investors looking at the property,” she says.
“They’ll probably hold it and watch it grow in value, aiming for good capital growth.”
The 95sqm single-level brick building includes a large kitchen with commercial-grade fridges and ovens, as well as a toilet at the rear of the block.
Sowersby says the shopping strip at Pascoe St, which is opposite Westbreen Primary School, is “only getting better”.
“People have bought trays of pastizzi here for years,” she says.
“So we expect a good result from this sale.”
This article from Leader Newspapers originally appeared as “Pascoe Vale pastry shop auction should see investors cook up a delicious deal”.