Hotel Indigo land put up for sale

The proposed Hotel Indigo in Torquay is again on shaky ground, as the land on which it is slated to be built is on the market.

Last night (Tuesday, October 13), McCartney Real Estate announced they were the exclusive selling agents for the land at 2-4 Geelong Road, across two titles of 1012sqm each.

The listing on the agency’s website describes the land’s location, aspect across Spring Creek as well as its frontage onto the Surf Coast Highway as “providing high exposure and a prime development opportunity”.

The estimated sale price is between $2.4 million and $2.6 million.

“Zoned residential 1 and highly appealing for a residential or commercial development including townhouses, apartments, medical centre, restaurant/s, residential aged care facility or retirement living, leisure and recreation or convenience store (STCA) and offers potential ocean views from a multi-level structure,” the listing states.

“Nearby all amenities and within walking distance to beaches, restaurants, Spring Creek Reserve, RACV resort and golf club.”

Developer Barnes Capital is seeking to build a five-storey, 128-room hotel on the land, but the Surf Coast Shire council refused to grant a planning permit in May 2019.

The listing comes seven months after TMASL Finance, as the mortgagee in possession executing rights to the power of sale, appointed McCartney Real Estate to have exclusive sale authority for the land, and less than a month before Barnes Capital is to argue at the Victorian Civil and Administrative Tribunal why the hotel should be granted a planning permit.