Collingwood home of PBS radio to tune out for $7m

The home of an iconic community radio station for more than a decade has hit the market.

The striking red-brick warehouse at 47 Easey St, Collingwood has been the headquarters of PBS 106.7FM since 2001.

After “catching wind” that their landlord wouldn’t be extending the terms of their 20-year lease, they jumped at the opportunity to move to the Collingwood Arts Precinct.

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The former warehouse — which has been a wool storage, chocolate and shoe factory, according to the Easey St website — is selling with a mammoth $7 million price tag.

PBS general manager Adrian Basso says the station moved from St Kilda to the north-side space and hasn’t looked back.

It is the home of PBS 106.7FM

“We knew the day was coming, as far as our lease was concerned, and (when the) landlord informed us they wouldn’t be extending our terms, it wasn’t a surprise,” Basso says.

“Moving to an arts precinct, which has a big focus on music, was both appealing and great timing.”

The commercial two-zoned building is on 1045sqm of land with no heritage overlay.

It is split between three tenants, including a retail distribution space upstairs, and brings in an income of $94,835 per annum.

The leases expire in November 2021.

Spacious interiors.

Besides a radio station being introduced, Basso says not much has changed in the warehouse.

“We have had different tenants over the years … including a skate and surf wholesaler who have been great neighbours,” Basso says.

“(It) is one of the older looking buildings in the street, has two street frontages and great potential.

“We managed to get in before Collingwood took off, and struck a good deal that has been beneficial to us and music lovers.”

The exposed meeting room.

Basso says the move to the Collingwood Arts Precinct will be costly.

“It is not a simple process of moving desks and computers,” he said.

“We have to design and build a specialist studio, and will take the opportunity to refresh equipment.

“We are developing the space from the ground up, which is interesting, fun and scary at the same time.

The retail distribution space upstairs.

“We managed to secure $500,000 from the state government, but we need to raise more funds.”

He says many fond memories have been made at the site.

“It’s been a place for people to socialise, get to know each other and share their passion,” he says.

“It’s not flash inside, but very homey.”

Up to seven carparking spots at the rear.

Colliers International agent Andrew Ryan says the character-filled warehouse is in the perfect corner spot.

He says the vendors were a local Melbourne family looking to divest and redistribute their funds elsewhere.

“The buyer profile has been owner occupiers, investors and a few developers also looking at it,” Ryan says.

Graffiti outlining the door.

“They might look to improve, modify or develop the building, subject to council approval.

“The property is synonymous with Collingwood.”

It is expected to head under the hammer on June 27.

This article from Leader Newspapers originally appeared as “PBS’ longtime Collingwood home hits market for massive sum”.