Schots Home Emporium list their Clifton Hills store
The Clifton Hill warehouse of Schots Home Emporium has been listed for sale given their closure plans next year.
Schots have opened newer stores in Geelong and Moorabbin in Melbourne's South.
The landmark red brick building at 380-406 Hoddle Street is leased to Schots until April 2020, with options for only two x one month extensions.
Schots bought the building with 5,305 sqm floor space for $613,000 in 1994. It's expected to fetch upwards of $20 million.
It was built as a shoe and boot factory in 1913.
The building sits on a prime 2,140 sqm plot described as an island site by Colliers International agents Peter Bremner, Ted Dwyer and Andrew Ryan given it has four street frontages to Hoddle, Noone and Parslow Streets, as well as a rear lane.
The three storey building has been called "the most exciting opportunity to hit the market in the Melbourne City Fringe so far in 2019" by the Colliers team.
It will be sold with a short-term holding income of $800,000 per annum until the end of the lease in April.
