Rosebud’s iconic Top Fun site up for sale
One of the Mornington Peninsula’s most longstanding and beloved holiday attractions faces an uncertain future, after Top Fun’s owners put the iconic seaside amusement centre up for sale.
But while the renowned entertainment complex is already attracting interest from developers, agents say it could also win a reprieve from owner-occupiers who wish to continue to business’s two-decade tradition.
Top Fun has entertained countless children and families over the years, with the 1223-1229 Point Nepean Rd property now comprising two 18-hole mini golf courses, ten pin bowling and a range of arcade games.
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But large sites directly opposite the Rosebud beach and foreshore are scarce, meaning the 1946sqm corner block, which has more than 46 metres of frontage to Point Nepean Rd, could be a developer’s dream.
The land has is currently zoned ‘General Residential 1’, which would allow for a medium to high density residential development, subject to council approval.
But CVA Property Consultants agent Daniel Philip says the site is awaiting final rezoning approval as a mixed-use site, which would allow for both residential and commercial uses.
“The land falls under a new rezoning. There’s been an approved rezoning to mixed-use, which is currently with the minister, just waiting to go through,” Philip says.
“It’s a substantial land area – it’s a potential development site. Being just under 2000sqm, it’s prime for a residential development.”
Philip says that after many years entertaining the summer holiday crowd, a large number of which camp across the road on the Rosebud foreshore, Top Fun’s owners have decided the time is right to move on.
“Top Fun have been there for 20 years running that business. It’s been in their family for many years.”
“The market’s good down there. They’ve owned the business for a long time, and they’re looking to move it on and focus on some other things, and take advantage of the market at the moment.”
But the business may yet win a reprieve, with Philip saying some of the early interest in the property has been from owner-occupiers who have expressed a desire to buy it and keep the fun going.
“We’ve had a lot of calls over the break. The big influx of people going down there on holidays and what not, it definitely creates a bit of a buzz around the property,” Philip says.
“We’ve actually had a range of different people (enquire). We’ve have everyone from owner-occupiers or someone that can utilise the improvements there and run the business, to investors who would look to re-lease it in the future, and then obviously your residential developer, looking to put some sort of townhouses on there.”
“That size land, especially being such a well-known site as well, and where it’s positioned, we’re expecting there to be a lot more interest and people looking to secure it.”
The site will be sold via expressions of interest, which close on February 28.