Geelong West Harp Inn offers Historic opportunity on Pakington St
One of Geelong’s earliest buildings could be starting a new chapter after the property was listed for sale.
The former Harp Inn has stood at 22 Pakington St, Geelong West, since 1848.
Gartland, Geelong agent Michael De Stefano has listed the 335sq m property for private sale with a $1.65 million to $1.75 million price guide.
Mr De Stefano said the property was available with vacant possession.
But buyers could continue its existing use as a restaurant, with equipment such as a commercial kitchen, walk-in cool rooms and open-plan dining rooms well established in the building.
“It’s going to be offered with vacant possession, so a walk-in, walkout basis,” he said.
“So for anybody that wants a restaurant there is the infrastructure there.”
But he said the Commercial 2 zoning opened the property to other activities, including retail and office uses, with a significant exposure to traffic on Melbourne Rd.
“Where it’s located, you’ve got that exposure down that end (of Pakington St that has transitioned to an office hub.
“That type of use would be quite ideal. You’ve got some flexibility there, whether you wanted to (use it for) hospitality or a wine bar or some type of restaurant.”
Mr De Stefano said interest had been strong in the first week of the campaign.
“We’ve got really low stock levels and it’s a property in a location that is pretty immune from vacancies.
“It’s a pretty safe and strong play.”
The Harp Inn is one of Victoria’s earliest buildings.
It operated as a hotel until the 1860s, when the licensee opened the Telegraph Hotel.
The building then became a residence and was extended soon after, while retaining the original facade, which heritage notes was typical of its early date and relates more to New South Wales and Tasmanian architectural development.
“It’s a real opportunity to stamp the next chapter on it,” Mr De Stefano said.
“If you’re going to invest money into a property, you might as well do in a street like Pakington St.”
GATEWAY SITE SOLD
A Melbourne-based developer has secured a unique site at the gateway to central Geelong.
The 846sq m property at 15 York St sold for $2.1 million in a deal completed on February 8.
The property has two street frontages, most notably to Mercer St at the northern entrance to the city centre.
Car hire firm Thrifty has a lease until August 2022.
Mr De Stefano said it was a great exposure site.
“It sold to a Melbourne buyer who plans to develop it but hasn’t devised a plan for it yet,” he said.
“They will see what the can and can’t do but they obviously saw that as a gateway of the Geelong CBD.
“It’s a great exposure site and they’ve been looking at Geelong as a great place to invest and are dipping their toe in with the market.”
The property carries a wide ranging Activity Centre 1 zoning, though it is next to a line of modern apartments on York St.
“This is a property. It be nice to see something built on that corner.”