Not just a building .......
but a lifestyle, a home, an income, a business ..... an opportunity.
This historic building, built in 1896 and 1906, is as sound as it was at the turn of the century. Located in the main street of Yarram, 210 kilometres from Melbourne in the rich dairy country of Gippsland (Victoria, Australia), the Federal Coffee Palace is presents an opportunity for someone with imagination to make maximum use of its prime corner position and large space.
The two-storey building currently consists of a large owners residence upstairs, three self-contained flats, a gallery (the old billiard room), and a large shop/business area. In addition, there is a large lined shed, and a huge garage (once the old stables). One of the flats is currently used as a business office. The corner shop was recently let as a veterinary clinic but is now vacant and would make an ideal bookshop, gallery, coffeeshop (or combination of these), or for any other business requiring a prime position in a major country town. Land dimensions are 20 metres (Commercial Road), x 51 metres (James Street).
Asking price is $360,000
........ that's all it takes.
Buildings such as these do not come on the market every day. Here you have the opportunity to live in an historic building right in the main street of a delightful country town, and earn an income through renting the various premises, or running your own business, be it a gallery, bookshop, or professional service. Thats what Peter Stone and Wendy Bouker have done for the past six years - now it is someone else's chance. We are offering the Federal Coffee Palace for sale as we wish to move to a nearby rural property.
Now, before you have the idea that the building is a coffee shop (which it is - partly), let us give you the background of the building. Like so many public houses at the turn of the century, the name given to a stage-coach inn or a lodging house was often the Federal Coffee Palace. A fancy name perhaps, but most large towns had one - including Melbourne. This particular building was built as a hotel but another business beat them to the punch, literally, and the Federal Coffee Palace became a men's club, then a boarding-house in the rapidly developing town of Yarram, South Gppsland. The building was constructed in two sections, the corner building circa 1896, the section with the arches circa 1906. Don't take any notice of the year 1901 on the front of the building - that was put there in the year of Federation. (By the way, note the magnificent crest on the top of the building).
The building is extremly solid, the ground floor being triple brick, the upper floor double brick. The floor and ceilings are baltic pine, the roof galvanised iron. Many renovations have taken place over the years, some not so sympathetic with the original intent but nontheless practical. The current owners have completely re-wired the building to being it into line with acceptable standards, and have installed a complete new plumbing system with two new hot-water services. Whilst the building was recently painted and many rooms have been renovated and decorated, there is still ample opportunity for the imaginative buyer to display their own creativity. The major work has been done with plumbing and electricity and all important facilities completed. Work is proceeding on several rooms in the main residence, whilst the corner business premises are currently bare and need complete remodelling to suit the business. The building is located on the corner of Commercial Road and James Street, at the 'tourist end' of town with a park opposite and a Mobil service station (where everyone stops) on the other corner... this adds to its enormous potential to develop the coner premises into a business that caters for the passing tourist as well as the locals.
A major tenant within the building is the superb Federal Coffee Palace Restaurant which occupies the ground-floor corner area fronting Commercial Road and James Street. This modern restaurant was constructed from scratch after the previous tenants (a veterinary office) relocated in June 1997. The restaurant consists of a combined cafe, wine bar and coffee shop. No further renovations are needed and there is a long lease available.
It is importan t to realise that it is not only the building that is for sale - it is also a business. Current tenants bring in over $1800 a month - and you have a large, comfortable residence as well (which could also be leased out). The design of the building is such that a number of configurations could be considered. For example, the gallery and flat can be combined into one large gallery (or office and gallery as it is currently); unit 2 can be combined with the main residence, the professional area could be expanded or contracted as required, and even combined with the gallery if need be. It is only up to your imagination and requirements. And yes, it is zoned commercial, being right on the edge of the commercial limit of the main street.
Words can do little to describe the building and its opportunities adequately. You need to speak to the owners, inspect the premises, stroll round the town, have have fish and chips at Port Albert (the best in Australia) and consider your lifestyle in a delightful rural area with not a traffic light to be seen.
Asking price? $340,000
Peter Stone & Wendy Bouker
303 Commercial Road, Yarram, Victoria 3971, Australia
Phone: (03) 5182 5108
Fax: (03) 5182 5823
Created by FatMan Graphics, Yarram, 3971.
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