A LARGE, centrally located commercial property has hit the market in Inverloch which the town’s most experienced real estate agent, Kevin McMahon, has described as one of the best he’s seen in many years.
With a combined area of 1280 sqm and zoned Commercial 1, the property is located at 6-8 Ramsey Boulevard and 4 Beaton Place, Inverloch, just a few doors down from the Esplanade Hotel, facing the Inverloch foreshore.
“You’re nearly next door to the pub and just over the road from the beach and while you don’t have to build it, the concept plan produced by renowned architects ClarkeHopkinsClarke is not overdone, very much in keeping with the character of the town, while at the same time, tastefully improving the amenity of the commercial area,” said Mr McMahon.
“You’ve also got a good holding income there with the existing tenants until the time is right to develop,” he said.
Mr McMahon, together with his daughter Fiona, representing Ray White Inverloch, is looking to sell the property at auction on Friday, February 28, on site at 1pm, in conjunction with Raoul Holderhead of commercial property experts Burgess Rawson.
Mr Holderhead agrees with Kevin McMahon’s assessment.
“Obviously the position is perfect, zoned commercial, on the beach side, right in the centre of town,” said Raoul Holderhead this week.
“You’ve got three clear street frontages and access to a fourth via the side lane making it what you’d say is very much developer friendly.
“ClarkeHopkinsClarke have produced a concept design calling for three shops and a dozen or so apartments which gives you an idea of what might be possible there in the future, subject to council approval, but you’ve also got a number of existing tenants who are happy to stay right where they are.
“It’s probably the last piece of the puzzle where the centre of Inverloch is concerned,” he said.
A regular Inverloch visitor and former resident, Mr Holderhead said that while Inverloch was a popular holiday destination, with people attracted to the town’s beautiful, safe surf beach in particular, most enjoyed the fact that it managed to maintain its village feel.
“It’s a popular place with residents and visitors and always will be, being this close to Melbourne, but restrictions on the expansion of the town boundary mean it will retain the small-town character we love.
“If you want expansion you can go to Phillip Island or down to Ocean Grove where it’s basically part of Geelong now.”
Summarising what’s on offer, Burgess Rawson and Ray White Inverloch have provided the following details about the property at 6-8 Ramsey Boulevard and 4 Beaton Place, Inverloch.
* Combined 1280 sqm ‘Commercial 1’ site (across two titles), to be sold in one line
* Zoning allows for a 3-level development with parking (STCA)
* Indicative concept by renowned architects ClarkeHopkinsClarke (STCA) proposes 3 ground floor retail shops, plus 20 secure on site car spaces and 14 apartments across the upper levels
* Important street frontage and retail exposure of 101 metres
* Position perfect close to the Esplanade Hotel, with huge foot traffic, and opposite proposed three level ‘Inverloch Marine site’ development
* Central amongst numerous council car parks, all within close proximity
* Includes established tenants on short term leases – Offshore Surf School, The Beach Box Café and Fisk Beauty, plus Vendor owned Laundromat (Holding net income circa $100,000pa)
* Inverloch: year-round tourist mecca, 86km from metro Melbourne, permanent catchment of 6800, swelling to about 25,000 over the summer months
* Potential 50% stamp duty savings
* Buy now, develop later
The auction will be staged on site at 1pm on Friday, February 28 (unless sold prior). Click HERE for contact details.
