SoldGeelong VIC 3220House99-101, Corio Street
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John OBeirne
+61 405-185-019
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House

Scottish Chiefs Hotel-Taco Bill Restaurant.

99-101, Corio Street, Geelong, VIC

3Bedrooms
2Bathrooms
2Carspots

Property Features

  • Air Conditioning
  • Ensuite
  • Open Fire Place
  • Other Features

About this Property

The most recent comparable sale is on the corner of Corio Street & Yarra Street Geelong on 20th March 2014 adjacent to this building for sale. This sale achieved $1,635,000 for 473m2 & rented at $190 per m2 per annum.
The use is office.

Energy Australia has recently announced they are employing 300 staff which will be accommodated in offices near this establishment.

Currently the rental is $91,334.12 per annum plus out goings with CPI increases due in January 2015, at that point in time, the tenant has the option of two further terms of 5 years.
The five year term expires in January 2015.
The tenant is a national tenant & there are Guarantors in place.

Currently there are negotiations in place to subdivide the blue stone area (outdoor area) from the main area,

Scottish Chiefs-Taco Bills consists of a basement with cellar, ample storage & two storeys of architecture gone by. There's also a 3 bedroom apartment, main brm with ensuite.

Two car parks on title and a lift from the basement cellar to the ground floor.
There is additional room for a further two cars.

Situated only 150 meters from the water front, it offers water views from the 2nd floor.

Surrounded by the new Westfield buildings including Myer, Target, Big W &, inner city major projects, council offices, taxation offices, inner city dwellings and the recently approved new major university accommodation buildings only 300 meters down the road, the diversity of patrons is only limited to your imagination.

History:-

First opened on July 13, 1848 by John Sutherland as the Scottish Chiefs Inn promising first quality wines, spirits, ales, porter and stabling. The Scottish Chiefs is a rare survivor from the pre gold rush period in Victoria and the site of the oldest working brewery in Australia. It is the only one of 25 or so other pubs established in the area between 1840 and 1848 that is still standing.

By 1850 the then licensee, Pat Purcell had let things slip and was told by the licensing court that his premises were not for the meanest of bushman. The license was cancelled. John Pearce took over in 1852 and cleaned up the establishment and introduced a public concert every Monday, Wednesday and Saturday. In 1853 John Sutherland sold the freehold to George Scott for 3675 pounds.

Prime Time for Development.

The City of Geelong has a new draft Activity Centre Zone; as it relates to this property.

The precinct in which the land is located outlines a preferred overall height of 24 meters (8 levels) with a podium or street edge height of 20 meters.

This site would be ideal for a boutique 42 hotel suites or student accommodation with retail component/s on the ground floor. STCA.

Developments are subject to council approval.

A Section 32 & Contract of Sale is available to serious prospective purchasers.

Inspect by appointment only. Phone
John O Beirne on 0405-185-019

Property Code: 403145559
J

John OBeirne

East Coast Property Services
+61 405-185-019
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