Your own tenpin bowling alley for $820,000

Investors looking to add a unique property to their portfolio could be tempted to strike a deal on this tenpin bowling alley.

The 14-lane lane facility in Grafton, on the State’s north coast, has been listed for sale with a price guide of $820,000.

Located opposite the local racecourse and greyhound track, the popular spot comes complete with cafe, commercial kitchen, liquor licence and its own gaming arcade.

It been attracting interest from potential buyers both locally and from Sydney, Brisbane and Melbourne either to run as a business or hold as an investment.

“It appeals to a very niche market so generally they take a little longer to move, but we have had consistent enquiries on it,” says agent Harrison Tory from Ray White Grafton.

“It is something incredibly difficult to price, obviously people are looking at the turn over generated and their return on their investment.”

According to CoreLogic RP Data, a bowling alley at Lismore sold for $1.4m in November last year. It was positioned on almost 5000sqm with prime highway exposure and in Lismore’s industrial/retail precinct.

The Grafton site is set on a 3916 sqm parcel of land and comes with a 67 space car park with potential to further develop or expand the site – subject to approval.

The property deal is a ‘walk in, walk out’ sale and includes the land, building and the equipment needed to operate such as pins and bowling balls.

The bowling alley on Powell Street is on the market

Tory says the bowling alley has an active and loyal customer base with ongoing events, functions and bookings.

“It has been there a long time – I’m 26 years old and I remember coming to the bowling alley as a teenager when we moved to the area – everyone knows it and has their own memories there,” Tory says.

The site also includes a pro shop, multiple store rooms, workshop and office space.

Its current owner discovered a hidden retro mural above the lanes, believed to date back to the mid-80s, when he started operating the business.

It has a cafe and a commerical grade kitchen.

“There was a big partition across there which he had never peaked under – he ended up getting it pulled down and a big mural was there which he has left exposed,” Tory says.

The site, located in Powell Street, has an ‘open space’ zoning making possible a number of other commercial and recreational applications.

This article from The Daily Telegraph originally appeared as “Grafton Tenpin Bowl listed for sale with price guide of $820,000”.