Torquay retail super site expected to fetch $8 million plus

Torquay retail super site expected to fetch $8 million plus
Torquay retail super site expected to fetch $8 million plus

Retailer, developers and owner occupiers are tipped to line up for the sale of a large retail super site in Melbourne's surf coast town of Torquay, which expected to sell for more than $8 million plus. 

Located on Surf Coast Highway, the super site forms Stage 3 of the West Coast Business Park in Torquay.

It is anchored by Bunnings Warehouse, with the retail component complemented by 43 commercial and industrial lots.

Colliers International’s Tom Noonan and Andrew Lewis, in conjunction with DTZ Australia’s Nicholas Bourke and Patrick O’Callaghan, have been appointed to sell a 4.9 hectare property.

Torquay retail super site expected to fetch  million plus

Shell Coles Express and a car wash are pre-committed to the development and will take about 5,600 square metres at the southern end of the site.

“Having two pre-sales contracts to both Shell Coles Express and the car wash provide the eventual purchaser with certainty of income once the construction commences as well as providing a strong anchor for this final stage,” Mr Noonan said.

The development sits opposite the site of the new $26.5 million Torquay Secondary School and $44 million Surf Coast Civic & Community Centre.

Recent sales in the area included the sale of a Bunnings Warehouse on Beacon Boulevard in Torquay for $11.2million, while Coles snapped up the Torquay Central Shopping Centre at 41 Bristol Road for $14 million.

Expressions of interest close June 12. 

Tags: 
Victoria Retail Rural

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