A CAR wash described as a \u201ca rare corner allotment that is perfectly positioned for redevelopment\u201d in Torquay has been sold, and the listing agency does not believe it will remain as a car wash for very long.<\/p>\n
Colliers advertised the land at 48-50 Bell Street as a \u201cunique proposition\u201d for developers.<\/p>\n
Zoned Commercial 1, the 869sqm site is presently operating as the Splish Splash Auto Spa.<\/p>\n
Colliers listed the land for sale by tender in mid-February, but according to Colliers\u2019 Sam Neale, the agency \u201cdid not receive an acceptable offer\u201d by the close of tenders on March 11 and the site was then offered for sale privately at a price of $2.5 million (plus GST).<\/p>\n
On Tuesday this week, Colliers managing director and Geelong branch manager Andrew Lewis said the site “had a great big sold sticker all over it” and sold for about $2.5 million, but declined to reveal the buyer.<\/p>\n
“There were about four parties involved (in the bidding). There was some good interest from local developers, Geelong-based developers and a couple of Melbourne developers, so it was a good mix of interested parties.”<\/p>\n
During the sale process, Colliers advertised the site as \u201can offering like no other currently on the market\u201d.<\/p>\n
“It won’t stay as a car wash for long,” Mr Lewis said.<\/p>\n
“It lends itself to a development opportunity, such as ground floor retail and first floor residential – that’s what everyone was talking about; everyone was thinking the same way.”<\/p>\n","protected":false},"excerpt":{"rendered":"
A CAR wash described as a \u201ca rare corner allotment that is perfectly positioned for redevelopment\u201d in Torquay has been sold, and the listing agency does not believe it will remain as a car wash for very long. Colliers advertised the land at 48-50 Bell Street as a \u201cunique proposition\u201d for developers. Zoned Commercial 1, […]<\/p>\n