Mushroom Records lists HQ where Kylie Minogue was signed

9 Dundas Lane, Albert Park, served as Mushroom Record’s headquarters for almost 50 years.

Mushroom Records’ iconic former Albert Park headquarters, where acts from Kylie Minogue to Jimmy Barnes were signed, is tuning up for a $6m-$6.5m sale.

For almost half a century from 1980 onwards, the Dundas Lane building served as Mushroom’s base after the late music mogul Michael Gudinski moved the label’s operations to the converted biscuit factory.

The three-level address could now be re-purposed as a home for Australia’s ultimate music fan with the offices having also hosted Skyhooks, Archie Roach, Paul Kelly, Hunters & Collectors, Yothu Yindi, Vance Joy, The Temper Trap, Vika & Linda, Dan Sultan and The Teskey Brothers across the years.

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British superstar Ed Sheeran, who considered Mr Gudinski as a mentor, was a regular visitor.

The premises even served as the birthplace of Frontier Touring which has produced Aussie and New Zealand tours of Taylor Swift, The Rolling Stones, Billy Joel, Madonna, Bruce Springsteen and the Foo Fighters.

Mushroom is relocating to a new Little Collins St headquarters.

The record powerhouse’s chief executive, Matt Gudinski, son of the late Mr Gudinski, said it would be sad to leave behind so many memories but he was excited to see what the property’s future would hold.

“Dundas Lane has been an incredible part of Mushroom’s history and is globally renowned in the music industry,” Matt said.

“I’ve been coming here my entire life, and it’s hard to overstate what this place means to everyone at Mushroom.”

A spiral staircase surrounded by music and entertainment posters.

Mushroom Records chief executive, Matt Gudinski, outside the Albert Park building. Picture: Tony Gough.

Australian music entrepreneur Michael Gudinski moved Mushroom Records’ headquarters from St Kilda to Albert Park in 1980.

British musician Ed Sheeran with Australian music entrepreneur with Michael Gudinski. Picture: Brian Purnell.

Real estate agencies Marshall White and Stonebridge have the listing, which is being sold under instructions from commercial property advisory firm Advise Transact.

Marshall White’s Oliver Bruce said the residential-zoned, distinctive brick building’s features, including a rooftop terrace, industrial steel windows, warehouse-like interiors and three street frontages meant it could be transformed into one large family compound or multiple smaller residences, pending planning approval.

Imagine if the walls could talk.

Singer Kylie Minogue and Michael Gudinski. Mr Gudinski signed Minogue in 1987, at the urging of fellow music executive Amanda Pelman. Picture: Mushroom Group.

The former biscuit factory turned record label headquarters is set on a 525sq m block.

With a total 1080sq m of building space available, a boardroom and a spiral staircase, it could also be retained for commercial use, he noted.

“We’ve got a number of parties already interested, so I don’t think this is going to last very long (on the market),” Mr Bruce added.

When asked if he’d heard from, any famous potential buyers, the agent quipped: “I’d like to personally go to Ed Sheeran and offer him the site, but I’m sure that he’ll be already made aware of it by the Mushroom family.”

The initials “MG”, for both Michael Gudinski and Matt Gudinski, sit in an office which has views of Melbourne’s CBD.

A 1977 image of artists linked to Mushroom Records including members of the bands Ol’ 55, Skyhooks, Stars and The Millionaires.

The record label’s mushroom icon is lit up below the stairs.

Advise Transact managing director Mark Wizel said that the property would have nostalgic appeal for many buyers thanks to its place in Australian music history, in addition to offering significant versatility for future development, residential or commercial use.

“There are some properties that have a sort-of standstill effect and I think when you’re walking down Dundas Lane, you get an appreciation for the area that you’re in,” he said.

“But then you just see this incredibly unique piece of real estate that sits in an iconic laneway, which has only been made more iconic by the fact of what’s occurred in that building for such a long period of time.”

Mr Wizel said most developers he has talked to believed they could likely get a five-level permit approved for the site.

“I don’t think that there’s a hotter residential market than what they’re saying at the moment in Albert Park,” he said.

“The prices that are being achieved, for example, for apartments are breaking all records anywhere in Melbourne – I think they’re trending over $40,000 per square metre.”

Developing a high-end residential project targeting well-off downsizers at the Mushroom HQ would work at from a financial feasibility standpoint, he added.

Singer and songwriter Jimmy Barnes wearing a Mushroom Records T-shirt. After Cold Chisel split in the 1980s, Barnes launched his solo career with the label. Picture: Supplied.

There so mush room inside the building. (We’ll see ourselves out).

Stonebridge director Dylan Kilner said the premises’ industrial bones, brickwork and warehouse proportions offered real character.

“Buyers looking for a converted warehouse with genuine history, rather than a new building designed to replicate that character and all of this within one of Australia’s most tightly held residential and commercial suburbs of Albert Park,” Mr Kilner added.

Expressions of interest close October 29.

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