By Shelby Brooks

THE old Newhaven Boys Home has been sold to a local company after just two weeks on the market.

Realtor Ranjith Panangala of the Australasia Real Estate Group – Beaconsfield said the 1.4-hectare property sold on Monday, November 23 for just under the asking price of $3.5m.

“It was a little less but the vendors were happy,” he said.

Mr Panangala told the Sentinel-Times that the buyer planned to turn the Forrest Avenue site into a hotel and hoped to fully renovate the buildings and chapel.

“They value the heritage of the site,” he said.

“They have big plans.”

The property was listed on the market on November 10 by the past developing group, made up of 10 parties, who bought the site back in 2015 as an investment.

They did announce plans to turn the property into a five-star hotel back in March, but that never went ahead.