THE proposed Hotel Indigo in Torquay has been stopped in its tracks, with the sale of the land on which it was slated to be built.
McCartney Real Estate agent Tim Carson confirmed this morning that the land at 2-4 Geelong Road had been sold for $2.9 million, after a short private auction between two interested local parties.
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.
Barnes Capital is appealing the matter at the Victorian Civil and Administrative Tribunal, but the proposal suffered a major setback when the land at 2-4 Geelong Road was listed for sale at $2.4 million-$2.6 million in October.
At the time, Mr Barnes said the money for the project had been delayed by the federal government’s anti-money laundering checks, and he had headed “out of Australia to resolve the issues in relation to the funding”.
The Greater Torquay Alliance – which has led community opposition against the proposal – hailed the news of the sale in a post on its Facebook page yesterday.
“Today, time ran out for Barnes Capital! They didn’t have the capital to purchase the two vacant lots next to the car wash. They were sold for $2.9 million, possibly to some people who want to build townhouses.
“Remember, the community has a powerful voice when we work together. Well done Torquay!”
Mr Barnes did not immediately respond to a request for comment.