Apartment in Elwood’s converted first cinema hits the market
The credits are rolling for the vendor of a converted apartment within Elwood’s first cinema.
A New York-style loft apartment in the iconic ‘Broadway Theatre’ building at 8/145 Ormond Rd has hit the market with price hopes of $510,000.
The building opened in 1919 as the first cinema in Elwood before it was converted into a ballroom and function centre in 1961.
It was then redeveloped into apartments at a later date.
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Chisholm and Gamon Elwood agent Trish Mulcahy said apartments in the building were tightly held.
“People love being involved in older buildings that also have a modern touch,” Ms Mulcahy said.
“The vendor has owned it for many years and is only selling as she is moving to the country.”
The two-storey apartment has an open-plan kitchen, meals area and lounge room, that flows outside to a balcony, on the entry level and one bedroom with combined bathroom and laundry upstairs on a mezzanine level.
The apartment was designed with high ceilings and a void to create a sense of space while timber floorboards and a striking staircase add quality to the conversion.
There is also secure basement parking for one vehicle.
Another apartment, No. 11, in the same building recently sold for $824,000 through McGrath.
It has a larger living space and two bedrooms.
Only a couple of other apartments have sold in recent years.
The median unit price in Elwood is $623,000, which has seen a drop of 3 per cent in the past 12 months, according to CoreLogic.