Sale of the old Coles site will breathe fresh life into a forgotten corner of Wonthaggi CBD.
By Catherine Watson
A "gaping hole” in Wonthaggi's CBD is about to be filled with news that the Kinglake Group has bought the old Coles supermarket site.
The purchase price was $6.7 million, well down on the $8.08 million it sold for last time in 2004.
Kinglake director Jamie Allen said the group saw great potential in the site, which is in a prime position on the edge of the CBD and has parking for 89 vehicles.
A "gaping hole” in Wonthaggi's CBD is about to be filled with news that the Kinglake Group has bought the old Coles supermarket site.
The purchase price was $6.7 million, well down on the $8.08 million it sold for last time in 2004.
Kinglake director Jamie Allen said the group saw great potential in the site, which is in a prime position on the edge of the CBD and has parking for 89 vehicles.
When Coles was in residence, this part of town was the civic centre. The Wonthaggi Library, the public toilets and the town’s main bus stop were just across the road, next to the police station and courthouse.
It's been a retail wasteland since the library shifted to Murray Street, and Coles moved to the Wonthaggi Plaza and the bus stop shifted to Biggs Drive.
Discount store Cheap as Chips took over the old supermarket for several years but vacated late last year.
Snap Fitness has signed on for an 800sqm site next to BJS Insurance.
Mr Allen said Kinglake was speaking to several “major national tenants” about a second 730sqm site on Watt Street and hoped to have it let by the end of the year.
It's been a retail wasteland since the library shifted to Murray Street, and Coles moved to the Wonthaggi Plaza and the bus stop shifted to Biggs Drive.
Discount store Cheap as Chips took over the old supermarket for several years but vacated late last year.
Snap Fitness has signed on for an 800sqm site next to BJS Insurance.
Mr Allen said Kinglake was speaking to several “major national tenants” about a second 730sqm site on Watt Street and hoped to have it let by the end of the year.