The original land was purchased by Peter Davis in 1849. He was a prominent land speculator and later Mayor of Melbourne. He sold off blocks of land between 1850 and 1852 and a number of poorly built cottages appeared. There were paddocks between Myrtle Street and Davis Avenue with some shops on the Toorak Road frontage.

In 1887 there were ten wooden houses owned by Alex Cairnes and William Creber owned five iron houses and two wooden ones.

Myrtle Street was originally named Coburg Place however anti-German feeling around the First World War resulted in a name change to Myrtle Street.

In 1888 the council condemned the houses in the street as unfit for human habitation and they were sold to a solicitor names M.J. Gais who demolished them and rebuilt the houses. He donated some 60cm along the street line to the council to allow for the widening of the footpath. Interestingly number 47 Alexandra Street on the west corner of Myrtle Street was an old bakery.

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