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Historic Drewery Place Laneway Property Sold At Auction

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A classically designed Victorian-era freehold building in a Melbourne CBD lane has been sold at auction for $10.8 million at a yield of 4.0 per cent.

Approximately 108 people attended the auction of the property at 8 Drewery Place, with a total of 46 bids received.

The five-level freestanding building sits on a prominent corner with three street frontages. It formerly housed Sniders and Abrahams cigar manufacturing factory dating back to 1890. This part of Melbourne saw a concentration of tobacco oriented firms that established large factories and warehouses in the late Victorian-era and Edwardian period.

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Article originally posted at: https://theurbandeveloper.com/articles/drewery-place-laneway-melbourne