The ownership of major parts of Merimbula’s commercial space is set to change with three areas currently for sale and one of those under offer for a record amount.
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Merimbula Square, a commercial property on one title, which includes McDonalds, is for sale for the first time through Sails Real Estate and is understood to be priced around $6.5million. Consisting of multiple shops plus a three-bedroom, two-bathroom residence, it has a land size of 2762sqm and a building size of 2552sqm.
Sails director Steve Haslam said there had been “a large amount of strong interest” in the property.
We have been fortunate enough to receive a large amount of strong interest and an offer has been accepted.
- Steve Haslam, Sails
“An offer has been accepted which is expected to result in a record sale for Bega Valley,” Mr Haslam said. The offer is expected to be confirmed within the next couple of days.
On the other side of Market Street the Plaza is for sale for the first time in 64 years.
The 1878sqm site with triple frontages could be expected to sell for close to $6m according to real estate agents Burgess Rawson.
Selling agent Kieran Bourke said there had been 35 inquiries to date on the property, which will sell by expressions of interest closing on August 2.
At the northern end of town, Savills’ national director retail investments Steven Lerche has confirmed that there are “a handful of people” looking at the current Woolworths building on Main Street.
Woolworths is due to move across the road into its new site later this year, although the space will continue to be leased until August 2019.
“It will become vacant and could be ideal for a developer or owner/occupier. It could be either a single retail outlet or a number of smaller shops,” Mr Lerche said.
Because the current lease will run out in about a year, Mr Lerche said it was unlikely to be looked at in terms of straightforward investment.
The site area is 3846sqm with a building of 2355sqm and 94 car parking spaces. Developed in 1989 as a Cannons supermarket, it was last on the market in 2014.
