This article is from the Australian Property Journal archive
A FORMER Bridgestone tyre centre at Oakleigh in Melbourne's south east, has been sold by Crabtrees Real Estate for $3.2 million.
Crabtrees agent Matthew Marenko said that the purchaser proposes to redevelop the site as a Chrysler-Jeep, Alfa Romeo and Fiat automotive dealership.
Located at 1394 Princes Highway Oakleigh, the property has a site area of 2,000 sqm with a Business 2 zoning. The existing buildings are an office and showroom area of 120 sqm, a tyre storeroom of 155 sqm and four tyre fitting bays of 360 sqm, so that the total building area is 635 sqm or just over 30% of site coverage.
“This will be an ideal location as along this strip of the Princes Highway there are already large established Holden, Toyota, Suzuki and Hyundai dealership premises,” Marenko said.
Crabtrees director Chris McKenzie said the property was considered a prime owner-occupier site with excellent long term development potential.
“We offered this property at auction late last year and subsequent negotiations have achieved this result.
“We offered the property to enable the vendor to implement a business retirement plan,” McKenzie said.
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