SWINTONS Furniture & Bedding will close its doors in September next year but will look for future options at a new location beyond that time.
Southern Stay Disability Services has purchased the iconic property at 235 Timor Street, Warrnambool, and will develop new headquarters after acquiring the building which has links to the Swinton family stretching back more than 150 years.
The adjourning Swintons IGA will not be impacted by the multi-million-dollar sale.
Swintons Furniture & Bedding has a lease to continue trading on-site until September 2023.
Mr Swinton said he would use that time to weigh up potential future options.
"The trading business has not been sold, just the building," he said.
"Business has been very good so we will look at other opportunities."
Mr Swinton said the building was too big and elaborate for a modern furniture business.
"We're looking at this as an opportunity to pass the building on to a well-respected, not-for-profit organisation that can better utilise the site while we take the opportunity to potentially downsize and look at another location," he said.
As part of the deal, Southern Stay has also purchased land at the rear of the building for car parking.
The total purchased site is about 3000-square-metres and the building covers 2270sqm.
Southern Stay Disability Services chief Paul Lougheed said the move would consolidate the agency's office at one site and lead to benefits for all clients and the community.
Mr Lougheed said Southern Stay had been exploring options for increased office and participant activity space in Warrnambool for the past four years.
Selling agent Danny Harris from Harris Wood Real Estate said the sale was a great result for all parties and showed the on-going strength of commercial property in Warrnambool.
Mr Swinton said the Swinton family had owned property in Timor Street since 1865.
"We weren't looking to sell but Danny approached us on behalf of Southern Stay and we were able to negotiate a sale that is a good outcome for everyone," he said.
Southern Stay's 35 office-based staff are currently located across three sites in Warrnambool.
Southern Stay Disability Services is the largest provider of supported independent living in the south-west.
It provides services to more than 700 people and has a workforce of more than 260.
