This article (page13, Herald Sun, 17 March 2007)
will give you an idea of the value some people are prepared to pay
for real estate in Melbourne, if you compare it with 746
Swanston St Carlton (from $105,000), which offers an 8.5% rental
return guaranteed for 10 years, you will realize how good of an
investment this is.
WHETHER cell or cellar, inmates of Pentridge Prison
have always been locked away to improve their character.
However, wine, not wrongdoers, will be housed in the former
cells of D-Division from May.
About 130 of the 210 cells will be converted into wine storage
units, with prices starting about $60,000.
Real estate agent Leigh Chiavaroli said interest in phase one
of the development, known as Wine Bloc, had outstripped demand.
"We have had calls from the Northern Territory, Western
Australia, Far North Queensland - we have had 36 expressions
of interest already and we are only releasing 30 in phase
one," Mr Chiavaroli said.
"How often in a lifetime do you get the opportunity to buy
a piece of history?"
Unlike the moonshine previously consumed within its walls, Wine
Bloc will house some of the world's finest tipples.
The solid bluestone walls and minimal windows, combined with a
new temperature and humidity control system, will make the cells
perfect for storing premium wine.
And the security system is top-notch - naturally.
The cells under conversion were built in 1894.
The development of D-Division will also include a museum.
