A prominent Warrnambool site is set to be redeveloped after being sold.
Harris and Wood real estate agent Danny Harris said a Warrnambool man had bought the former Caltex service station site at 435 Raglan Parade for more than $500,000.
Mr Harris said the undisclosed actual price for the 2211-square metre site was a pleasing result.
The site, which has been unoccupied since February 2009, had been decommissioned over the past 12 months, Mr Harris said.
“After multiple offers from buyers, both local and from Melbourne, the site sold within 30 days,” he said.
“The buyer now has the option to either zone as residential or commercial.”
Mr Harris said he believed the new buyer’s intention was to build a multi-purpose commercial building.
“The zone allows for multi-purpose use such as a medical-base, a service station, a car wash or a food-base, but I believe his intentions are yet to be determined,” he said.
“Either way it will definitely be an important improvement to the gateway into Warrnambool.”