Buyer sought for unfinished Fitzroy warehouse conversion


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The half-completed warehouse has a $3.5 million price tag.

A semi-completed warehouse development with a grungy exterior and city views is up for grabs in Fitzroy.

The creation of a double-storey penthouse, two-bedroom apartment, office space and north-rear cafe at 35 Rose Street had been underway, but following a change in circumstance the property is now being sold as a blank canvas.

It is set to go under the hammer with a $3.5 million price tag on May 2.

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Leftover materials inside the warehouse

Work was still underway.

Construction inside

Jellis Craig Fitzroy agent Richard Rose said it was possible the plans would be continued under new owners.

“Ideally, someone would complete the vision that the gentleman had started. Otherwise, they’ll go back to square one and start again,” Mr Rose said.

“It is in a great position in a tightly held pocket of Fitzroy. It sits on three main frontages and on the top level you get uninterrupted views of the city.

“And it is next to the park which is a nice little oasis among other buildings.”

Mr Rose said the property would be well suited to a builder who was enamoured with the area.

“They might want to take on the job, build what’s there and live on the top floor,” Mr Rose said.

“The penthouse has the potential to be the biggest and best in Fitzroy.

“We have had about 40 inquiries and expect the property will be sold on auction day.

Rooms were starting to take shape.

Planks of wood remain.

Outside graffiti.

The property last sold for $2.42 million in 2011, according to CoreLogic.

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