Hill of Content opened its doors in 1922,when founder Albert Henry Spencer lived with his family behind the store.
Spencer came up with the name for the book store during a walk in Fitzroy Gardens when “the elm-trees and the plane-trees and the poplars said,‘Call it the Hill of Content’.”
The three-storey property at 86 Bourke street – next to Grossi Florentino – is expected to fetch close to $6 million at auction.
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Nick Peden,head of Melbourne CBD sales at real estate agent JLL,said the building had a lot of potential for owner-occupiers or investors.
When asked whether the property would remain as a book store,he said it was “more likely that it won’t”.
“There’ll be owner occupiers that are pretty keen to get their business in there and have the opportunity to utilise that location,” he said.