Your chance to buy Ballarat’s Beechworth Bakery building
Melbourne investors are poised to eat up the historic site of Ballarat’s popular Beechworth Bakery, which is on the menu for the first time since the eatery opened its doors.
The ground floor of the 1880s former Water Authority Office in the heart of the regional city — home to the bakery since 2006 — has a $2.595 million asking price.
An apartment shell above the Beechworth is also up for grabs, as the icing on the cake for anyone who can’t resist a baked treat.
Commercial Insights: Subscribe to receive the latest news and updates
Hudson Bond selling agent Dylan Ashby says the bakery site at 6 Grenville St is being sold with a decade-long lease worth $157,125 per year in place, meaning the famous business “won’t be going anywhere”.
“Rarely do investment opportunities of this calibre, with such an iconic tenant, become available,” he says.
Ashby says the building, which was constructed for the Ballarat Water Supply in 1884-86, has undergone a major refurbishment for the bakery’s opening that kept its historic charm intact.
The property is considered “a fine example of consistently detailed Renaissance Revival architecture” in the City of Ballarat, according to heritage documents.
Ashby expectsthe offering to appeal to Melbourne-based investors who see affordability and potential for future growth in Ballarat’s market.
Meanwhile, the “partially completed” apartment at 6C Grenville St — one of three units atop the Beechworth Bakery — is set to go under the hammer on September 29 with a $291,000-$320,000 price guide.
The 158sqm space offers period features including ceiling roses and parquetry floors, plus new plaster and plumbing in the bathrooms, but needs a full fit-out.
PRD Nationwide Ballarat’s Jason Birch expects the project to attract “someone who has the imagination and scope to create an uniquely modern apartment in a historically significant building”.
They could be an investor “looking to capitalise on Ballarat’s increasing rental and property prices” or an owner-occupier seeking a blank canvas to create their dream home, either from Ballarat or further afield.
One of the other bakery apartments, 6A Grenville St, was snapped up for $720,000 last month after being “opulently completed”.
It offered 250sqm of living space and sprawled across three levels comprising three bedrooms, two bathrooms, a study, two living areas and a rooftop terrace.
CoreLogic records show the building last sold 12 years ago for $2.375 million.
This article from the Herald Sun originally appeared as “Ballarat’s Beechworth Bakery site and upstairs apartment for sale in sweet deal”.