Baines Crescent’s most prominent site hits the market for the first time in 34 years
AFTER 34 years in the same ownership, one of Torquay’s premier freehold commercial sites has hit the market with Hayden Real Estate.
Securely leased to Baines Crescent’s most prominent anchor tenant, Mitre 10, the outstanding level site of three allotments, with substantial building infrastructure, is located on approximately 3,225sqm.
The site includes ample car parking, and adjoins Rip Curl Australasia’s warehouse. The premises is leased to Mitre 10 at $175,000 per annum on an excellent lease term.
This site has had a long history with the progress of Torquay since it first began operation as a Mitre 10 in 1988 supplying both to trade and retail customers.
Originally purchased by the Crick family from the Geelong Regional Commission just after the Ash Wednesday fires in 1984, the site first operated as Surfside Timber in October of that year before becoming Torquay Mitre 10 in 1988.
Vendor and Torquay Mitre 10 founder Evan Crick said the business, now owned by Fagg’s Mitre 10, had been operating under the Mitre 10 brand for nearly 30 years, was well established, extremely successful and remained part of the Metcash Owned Independent Hardware Group, with more than 730 stores operating nationally.
“Torquay Mitre 10 has been a major player in both the retail and trade hardware and timber areas for many years and continues to supply product to the majority of trades working within those industries,” Mr Crick said.
Since Mitre 10 was established, the Baines Crescent precinct has seen amazing development with the growth of the surf industry, warehouses, vibrant cafes, homewares, light industry, swimming pool, gymnasium and an assortment of trades and services.
The Mitre 10 site has played a huge part in the development of Torquay and the Surf Coast as this area transitioned from a predominantly holiday destination to a vibrant resident community.
For more information, phone Hayden Real Estate on 5261 2101.