Lygon St tailors building sold for first time in 40 years

A locally iconic Greek revival-style building has sold for the first time in about 40 years.

The striking property at 297 Lygon St, Brunswick East had been used for a knitting mill, paper bag manufacturer and shirt manufacturer before hosting Carbone Master Tailors.

The building received more than 60 inquiries from investors, owner-occupiers and developers but passed in before selling for “well in excess of $2.5 million”.

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Fitzroys agent Mark Talbot says the buyer is a land banker who wished to remain anonymous.

The Greek revival-style building is currently home to Carbone Master Tailors.

“The buyer was attracted to the original features, wide frontage and iconic style of the landmark property,” Talbot says.

“At this stage it is unknown what they’ll do, but it has a lot of flexibility … so watch this space.”

The Brunswick East property is spread over 596sqm, with the front used as a retail space and the back dedicated to tailoring.

It has 16.85sq m of frontage on Lygon St, offers rear access from Ann, Albert and Trafford streets and has a height limit of five levels.

The lease for Carbone Master Tailors expires in September 2020, with Talbot expecting they will “stay for some time”.

The property sits at the Brunswick East end of Lygon St.

He also says there was not a huge amount of community interest in the sale.

“There was no one knocking on the door saying, ‘this building must stay’, which was surprising,” he says.

“(But) the facade will be retained. It is such a good looking building that you wouldn’t want to change it.”

Talbot says he would love for the building to remain as it is.

“It is such an iconic building, and they don’t make them like this anymore,” he says.

This article from Leader Newspapers appeared as “Lygon St landmark Carbone Master Tailors the right fit for new owner”.