A ‘rare’ opportunity in the heart of Wagga is up for auction, offering potential investment in a retail or office space.
The property allows for business exposure, occupancy or development on 97 Edward Street, Wagga, opposite The Mill development and proposed hotel.
The asking price is $1.25m, however Craig Tait from Raine and Horne said the owners would “seriously” consider offers.
Mr Tait said the site has “good potential”, which boasts high exposure with a wide frontage to Sturt Highway.
“This is rare to obtain for a site this close to the main street,” he said.
“There’s capability for the development to be split into two tenancies and 14 car spaces demonstrates a huge amount of parking on both sides.
“I think as far as a B3 commercial zone, the chance to re-develop and this is subject to council approval, would be a rare opportunity not to miss.”
Over 300 square metres, the large retail or office space includes two kitchens, partitioned offices and open plan areas.
Mr Tait said the current owners have leased the property for a long time and are ready to move on as it has been vacant for about seven months, since Eldrige FN closed its doors.
“The owners are older, so they’ve decided to move on from one of their investments, allowing potential for a property developer or investor to take it on,” he said.
The property used to be a fuel station and while it still has fuel tanks underneath, there has been a full environmental clearance report.