Torquay: Great Ocean Road gateway development site listed for sale
Development at the start of the Great Ocean Road seems inevitable as owners of a Torquay car wash site seek a buyer for the property.
But not on the scale of a proposed five-storey hotel, which the Victorian Civil and Administrative Tribunal knocked back recently, ending a bitter community campaign.
The 869sq m corner site at 48-50 Bell Street, Torquay, has been listed for sale by tender in a campaign to close on March 11.
Colliers International, Geelong agent Andrew Lewis said price hopes were in excess of $2.5m.
Mr Lewis said the property was previously wrapped up in plans for the larger $80m development by Barnes Capital, which has faced stiff opposition from the community and Surf Coast Shire.
The neighbouring site at 2-4 Geelong Road, which formed the major portion of that development site, was sold off last year.
“That adjoining land has been sold for the Torquay hotel and as I understand they are not proceeding with a development similar to what was proposed,” Mr Lewis said.
“Council didn’t like it, locals didn’t like it so its not proceeding.”
Mr Lewis said the car wash could provide buyers a holding income while they plan their next move.
The property has a Commercial 1 zone and a 60m frontage to Bell Street and Geelong Road.
It will be offered with vacant possession, with the car wash equipment in place.
“While it will have a holding income from the car wash, there’s been a new car wash open in Torquay that has affected the income of this one.
“This one looks after itself, anyone who wants to buy it, it won’t cost them anything while they work out what they want to do with it.”
Mr Lewis said their was a wide range of options for potential buyers, who include locals, Geelong, Ballarat and Melbourne-based people.
“It’s good interest from developers and occupiers, people who want to build it for their own business or for a residence above.”
Mr Lewis said commercial, retail, residential and hospitality were among the possibilities for the site.
“There is not much you can’t do their in truth,” he said.