The historic Donkey Wheel House in Melbourne has been placed on the market through Daniel Wolman, Matt Stagg, Oliver Hay and Leon Ma of Colliers Melbourne. The vendor is Ethical Property Commercial Fund, a vehicle for wholesale investors wishing to participate and invest in centres to support not-for-profits, campaigning organisations, social enterprises and charities.
Donkey Wheel House was built in 1891 as the headquarters of the Melbourne Tramway and Omnibus Company (MT&OC); developer of Melbourne’s first horse tramway system. It was designed in the Venetian Gothic style by renowned architects, Twentyman & Askew, as a four-storey, 2,888 sqm office building built with a basement and street level shop to Bourke Street. As MT&OC’s fortune declined with the introduction of electrified tramways, so too did the historic building and by 2008 it had fallen into disrepair. Coming full circle, it was then fully restored and refurbished for modern commercial tenants while respecting and maintaining the heritage value of the building.
Melbourne Cityscope’s records show that Donkey Wheel House last traded at $14.35 million in 2016 with expectations for the current sale at $25 million plus.
CoreLogic Australia