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Expressions of interest are sought for the Palais, for Sale or for Lease. This iconic Geelong building has been an integral part of our social and architectural frame work for over 100years. Set over 4 allotments totalling approximately 2600sqm, cornering Moorabool & Maud streets, each allotment also has clear local road access at the rear. The integrity of the main building has been maintained and the careful planning & site use has created multiple income streams. The Palais is synonymous with inner city entertainment and offers easy access to the South Geelong station; is a short walk to a multitude of restaurants and offers an existing framework and infrastructure that is limitless to the open minded. The main building is set on 2 allotments that total 1291sqm and has been carefully maintained & upgraded to ensure the character and charm of the building has remained unimpacted. 299 Moorabool Street is 647sqm, and number 301 is 660sqm; the corner of Maud street is a permitted income producing car park. The entire site is General Residential Zone schedule 1 which offers the discerning buyer multiple development options. A planning permit has been issued for the redevelopment of the site which includes the site being permitted as a place of assembly once the redevelopment has occurred which creates exceptional opportunities such as utilising the property as an arts centre, an entertainment & live music venue, and a social and cultural hub. There is a current Bingo licence ensuring the property has strong income potential, which will allow the new buyer the flexibility to hold as an investment, generate cash flow while they formalise further plans or land bank the property for future development.
General Residential Zone - Schedule 1 (GRZ1)