Photo Info

Uploaded on: December 9, 2023

Size: 81 KB

Views: 292

License:

Southern Indoor Bowls Club (Old Camden Theatre) to fetch $9 million

Established in 1968, Caulfield’s well-known Southern Indoor Bowls Club has allowed people to play bowls year round for more than 50 years. Established in 1968, Caulfield’s well-known Southern Indoor Bowls Club has allowed people to play bowls year round for more than 50 years.

But technology and better management of outdoor bowls surfaces has rendered the once-popular sporting venue redundant and accordingly, the club is offering the property for sale.

Savills CBD & Metropolitan Sales agents Clinton Baxter, Nick Peden and Glenn Ye have been appointed to market the expansive 2,295sq m property at 350 Hawthorn Road, saying they expected it to fetch circa $9 million for its “compelling” size and development potential.

“The property occupies a huge site with a 45-metre frontage to Hawthorn Road, has rear laneway access and is zoned for Commercial 1, providing excellent future development versatility,” Mr Baxter said.

“It represents an outstanding opportunity to develop, owner-occupy or value-add for a wide range of possible uses.” About two thirds of the land is occupied by a large three-level building comprising two indoor bowling rinks but Mr Baxter said indoor bowling facilities were being replaced with more versatile outdoor lawns.

“The combination of a dryer climate, far better drainage systems and the use of synthetic grass means that bowlers can now typically play year round on outdoor bowling greens,” he said.

“With membership dwindling, the Southern Indoor Bowls Club has elected to sell up and distribute the significant funds to local lawn bowling clubs.”

The property will be sold with vacant possession, except for a rooftop telecommunications lease, and with the benefit of a long settlement.

Contributed by Greg Lynch -