‘Strong interest’ in $3.5M Inverloch site

The uniqueness of a prime commercial site, just on the market in the middle of the bustling seaside town of Inverloch, has activated the market.

Prices in a range of between $3.4 million and $3.74 million, the site at 2-4 The Esplanade, Inverloch, presently the location of Inverloch Marine, has attracted strong interest according to Glenn Bolam of Stockdale and Leggo.

“I’m just up here for another inspection today,” he said on Monday morning this week.

“Between ourselves and Burgess Rawson up in the city, we’ve had strong interest, all of it from outside the area, mostly in Melbourne.”

Despite calling for expressions of interest until March 5, Glenn candidly agrees the property will be sold as soon as a suitable price can be negotiated.

But he scotches rumours the property had already been sold.

“I wish,” he said.

“But I strongly believe it will be sold given the quality interest we have received.

“We’re being guided with our price by recent sales in the town and properties on the market. The big block up at the top of the town is on the market for $3.2 million but that’s a completely different site.

“The property in Williams Street, where The Local Café operates, sold for $2.7 million but that was under the odds we believe.

“This site is absolutely unique. There’s simply no commercial land on the foreshore side of the Esplanade or Ramsey Boulevard.”

It’s a major point of difference that the agents believe someone, maybe more than one person, will be prepared to pay for.

Currently the long-time home of Inverloch Marine, relocating in mid-2020, the significant site spans 2,522 sqm with 185m of frontage and is zoned to allow for three levels, plus basement.

A report by architects Clarke Hopkins Clarke indicates the site could accommodate a supermarket or retail strip, 55 apartments, 66 car parking spaces and an infinity pool.

Such a prospect has attracted a lot of comment around the town, but it would certainly provide a whole new dimension to accommodation and hospitality at what has otherwise been a ‘low key’ beach resort.

Burgess Rawson director Raoul Holderhead, who is marketing the property in conjunction with Glenn Bolam of Stockdale and Leggo in Inverloch, said it was a ‘genuinely a once-in-a-lifetime opportunity’.

“True private freehold land with direct foreshore frontage very rarely comes onto the market,” Mr Holderhead said.

“Victoria’s coastline is mostly road frontage or natural bush, but this is one of the very rare private properties located on the beach side of the road. I would suggest it is probably the only development site for sale between Western Port Bay and the eastern Victorian border that has foreshore frontage.”

Mr Holderhead said that with the owners finally choosing to sell, the opportunity to create something special had arrived.

For further details contact Glenn Bolam of Stockdale and Leggo on 0419 219 828 or Raoul Holderhead at Burgess Rawson on 0413 860 304.

Published in the South Gippsland Times

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