301/125 Fitzroy Street, St Kilda

Auction: 1.30pm on Saturday, December 6

Property Type: Penthouse
Bedrooms: 3
Bathrooms: 2
Parking: 7 spaces.

Price guide: $1.5 million-plus for the apartment.
$200,000-plus for the tower.
Located in the top level of an old hotel – The George – in trendy Fitzroy Street, the apartment offers three bedrooms and two bathrooms. There is also an attached turret, which has a separate title and has been used as an artist’s studio.

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A walk through the apartment space is a bit like taking a trip down memory lane.

Nods from another era abound including decorative arches, curved windows, ceiling roses as well as polished Baltic pine floorboards.

Graeme Wilson, managing director of Wilson Agents, describes the property as “quirky and different with touch of the bohemian”.

“It’s a beautiful old building which is heritage listed,” Mr Wilson says. “The earliest part of the building dates back to 1865 when it was known as The Terminus (hotel) because the train line finished in Fitzroy Street. It was last used as a hotel in the late 1980s and then was dormant for a while before being restored as an apartment building.

“The hotel has seen some highs and lows and at one time it was earmarked as another Southern Cross (hotel). It also has been a music venue and seen strip shows. The George was originally a resort hotel and second only to The Windsor in status. Its regentrification and restoration as a wine room and apartment building in the mid 1990s can be attributed to vision of the late bar (the Dog’s Bar) owner and restaurateur Donlevy Fitzpatrick.”

Mr Wilson says the apartment will be attractive to both locals and outsiders alike.

“It will appeal to a local who has been in the area for a long time and appreciates the vibrant and eclectic mix St Kilda has to offer,” he says. “It has views across Albert Park Lake to the city, across to West Gate Bridge and across to Brighton and The Heads.

“It could also be used by a young family with kids. Teenagers would appreciate it. The apartment represents a lifestyle choice. It’s a bit like a European apartment. Importantly, it has quick access to some of Melbourne’s best restaurants and coffee shops. A primary school and supermarket are across the road.

“We have already had a couple of people interested in the tower and one or two who are happy to buy the apartment with the tower. The buyer of the apartment will have the first option to buy the tower. If they don’t we will offer it separately.”

Another bonus for the apartment buyer, is that the property comes with seven parking spaces.

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