A Melbourne CBD building dubbed a ‘creative hub for vertical artists’ appears to have been saved, as it looks to be selling for $80m in a unique deal.
The 10-storey building in the prime location on the corner of Swanston St and Flinders Lane was put on the market last year, with fears it would be transformed into apartments or an office building.
A campaign to save the creative community inside the heritage-listed Nicholas Building received over 5000 signatures.
A group of wealthy Melbourne families, including the Davis and Cohens and their respective relatives, put the historic property on the market last July.
Home to one of the oldest creative hubs in Melbourne, the building has more than 100 tenants spread across the building’s 10 floors of offices and studios, including designers, makers, artists and musicians.
The ground floor is also home to the Cathedral Arcade of boutique retail spaces.
Local investment firm Forza Capital is reportedly doing due diligence on the building for around $80m, with the intention of purchasing it under a social-enterprise model, which will allow…