Melbourne’s oldest building is set to be sold for the first time in more than 100 years.

Russell’s Old Corner Shop, a 171-year-old building on the corner of King and La Trobe streets in the CBD, was home to Lola Russell for 95 years.

It’s the only pre-gold rush building still standing in the city.

Ms Russell, 98, still owns the property, but now lives in aged care.

Her family are unable to pay for urgent repairs needed on the crumbling building, and bills for her care are piling up.

Ms Russell’s nephew, Owen Dixon, says the costs of his aunt’s care means the family has no choice but to sell.

“She loves the shop, and the residence. It’s been a big part of her life, obviously, and out of respect for that we’ve been doing everything we can,” he told Dee Dee.

“The building either has to be rented out or sold, but it’s not in a safe state to rent.”

The Melbourne City Council was interested in buying the property, but due to the pandemic, they have not gone through with the sale.

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