Historic Geelong West inn presents new opportunities on Pakington St
One of Geelong West’s earliest commercial buildings has hit the market with an opportunity to start afresh.
The former Harp Inn at 22 Pakington Street, Geelong West, is being offered at auction on February 26.
Colliers International, Geelong agents Sam Neale and Andrew Lewis are handling the campaign.
Mr Neale said price hopes were around $1.5m.
The 1848 brick building is presently occupied by the Thai House Restaurant, but is being offered with vacant possession.
However, Mr Neale said the tenants are prepared to stay on with a short-term lease arrangement if the buyers desire.
“Interest is from owner-occupiers and investors who are looking to convert it or keep it as is,” he said.
“It gives people the opportunity to have a bit of holding income while going through planning or keeping them on as a long-term tenant while they think what to do in the future.”
Mr Neale said that offered buyers flexibility with the 372sq m Commercial 2 zoned property.
A mix of owner-occupiers and investors have been among the potential buyers to show interest in the property, he said.
The existing property has a modern commercial kitchen, walk-in cool rooms and open-plan dining areas along with a function room.
But the property is not limited to hospitality purposes.
“We see it lending itself to medical, office or keeping it down the hospitality path as well,” Mr Neale said.
The building sits at the northern end of Pakington Street, which is becoming a stronger retail precinct, he said.
“When you look you’ve got The Telegraph, King of the Castle Café, they’re all really doing really well for themselves and it’s becoming a bit of a hospitality hub,” Mr Neale said.
“And then what’s going on at Daily Fresh Pako, the new grocer has brought that back to life and that end of Pako is thriving.”