Sabatys Blue Stores, Frocks, Coats and Costumes,
 above University Meats, Glenferrie Road, Glenferrie 

 Early Project Photos (2007-2008)

Sabaty's Blue Stores, Glenferrie, Melbourne

I have yet to research either Sabaty stores or University Meats but the Sabaty sign seems a good example of a Ghost Sign. The full wording is:

Sabaty’s Blue Stores

Frocks Coats Costumes

Value Quality Satisfaction