Council to sell property housing Ten Pin Centre

A Council owned property in Belmont is set to go under the hammer.

The Reynolds Road commercial property houses a tenpin bowling centre, a maternal health centre and car parking.

Geelong’s Mayor Trent Sullivan flagged budgetary issues as the reason for the sale of four assets, including the Civic Centre Car Park in December for over $20 million.

“We are facing a tough economic environment, with huge cost increases in the construction sector impacting our budget,” Mayor Sullivan said.

“These sales form an important piece of our affordability in our long-term budget planning, and will help us to provide improved community infrastructure for our growing population.”

The sale of the property will be through a private auction held by Colliers International.

Colliers Senior Executive Ben Young said the property comprises 2,975 square metres of building area with approximately 175 car parks, on a total of 15,605 metres of mixed-used land.

“This is a strategic investment opportunity in a thriving location with significant landholding, which presents as an investment with long-term potential for redevelopment,” Mr Young said.

The remaining two properties Council earmarked to sell include the Busport carpark on Brougham Street, and a property in Corio containing a KFC.