Why this Coburg Fire Station could be the perfect apartment block investment for you and seven mates

An old Coburg fire station is serving multiple apartments in a buying twist that could suit you and seven of your closest friends. See inside

This historic Coburg fire station has been transformed into eight high-end apartments—now on the market as a fully leased investment opportunity.

A historic Coburg fire station is now sparking interest from mates keen to split a block and investors chasing big returns.

An eight-apartment complex at 729 Sydney Rd, built within the red-brick bones of a 1920s fire station has $3.7m+ price hopes, is fully leased and pulling in more than $200,000 a year in rental income.

And while it’s currently on a single title, Jellis Craig Brunswick director Mitchell Boys said the vendor is open to selling it subject to subdivision approval — creating a rare opportunity for flexible ownership.

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“If you had seven friends and wanted to buy a block, you could do it — and you’d be paying well below what similar apartments are going for across the road at Pentridge,” Mr Boys said.

The Jellis Craig director said the heritage overlay on the site actually made the transformation easier, not harder.

Developers extended out the back of the old Metropolitan Fire Brigade station, added two extra storeys, and converted the former engine bay into secure off-street parking with stackers.

One of eight modern kitchens inside the converted Coburg fire station, featuring sleek finishes and open-plan design.

Spacious living area opens onto a private balcony in one of the Coburg fire station’s high-end apartments.

The result is four oversized one-bedroom apartments and four exceptionally large two-bedroom homes, each with secure parking and lift access to all three levels.

“The beauty of a facade like this is that it will never really date,” Mr Boys said.

“A lot of buildings start to look tired within a decade — but this will always be iconic.”

The fire engine bay is now a secure off-street car park, with stackers servicing all eight apartments.

Balconies throughout the Coburg fire station apartments offer light, space and outlook — some with glimpses toward Melbourne’s skyline.

With the building only five-years old, upkeep is minimal.

“Because it’s new, it’s still got depreciation benefits, and there’s not much to spend on maintenance. If you borrowed 100 per cent at today’s rates, it’s almost self-funding.”

Originally constructed in 1925, the fire station was decommissioned some years ago and left dormant before being re-imagined as a boutique residential block.

One of the generously sized living rooms inside the Coburg apartment block, part of the boutique fire station redevelopment.

Every apartment in the former firehouse includes a full kitchen with premium fittings and contemporary styling.

While the old brass fire pole was removed during decommissioning, generous original room proportions remain — particularly in the two largest apartments, located directly above the former engine bay where firefighters once bunked between calls.

And unlike many older blocks hitting the market due to changing tenancy laws, land tax and compliance costs, Mr Boys said this one bucks the trend.

Views to the Melbourne CBD from one of the upper-level Coburg firehouse apartments

Large bedroom inside one of the firehouse apartments, a rare find in the inner-northern suburbs.

“A lot of those older blocks need major work every time a tenant moves out – this one is ready to go,” he said.

“Buyers can choose a 60- or 90-day settlement with a 10 per cent deposit, and the sale can proceed either as a full block or divided, once the plan of subdivision is approved.

“You don’t often get the chance to own a whole block like this.”

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Originally published as Why this Coburg Fire Station could be the perfect apartment block investment for you and seven mates