Indooroopilly Bowls Club sold after lengthy strata struggle

Indooroopilly Bowls Club sold after lengthy strata struggle
Indooroopilly Bowls Club sold after lengthy strata struggle

The Indooroopilly Bowls Club has finally sold for $1.3 million, four years on from it's closure following an ongoing strata struggle.

The buyers, two local families, purchased the 4,507 sqm property and it will become known as Indooroopilly Greens designed to be a "destination hub nown for quality, passion and community when it comes to health, movement, fitness and food."

Situated at 101 Clarence Road the anchor tenant is Fitter Futures a kid and teen focused movement training facility which is expanding to include adult programmes.

The sale of the property was negotiated by Adam Willmore of Knight Frank, who was appointed by liquidators Morgan Lane and Michael Griffin from Worrells Solvency and Forensic Accountants.

Mr Willmore said he had received well over 100 enquiries from buyers with wide-ranging uses for the property over the four years he had been marketing it.

He said, "it has been a long and difficult process to get to this point where the property will be sold,” the site is essentially one strata unit that is part of the Body Corporate that also governs the 134 residential apartments on the Clarence Road property."

"As such, any incoming buyer needed to obtain body corporate approvals if they wanted to operate anything other than a bowls club."

“Unfortunately there were no club operators interested in the property at an acceptable price level and the majority of the interest in the property was from buyers with alternate uses in mind.”

Mr Willmore said the bowling greens were also zoned Sports and Recreation and sit above basement carparking so there was no development potential in the site.

“We previously had it under contract a number of times to buyers wanting to purchase it for other uses including childcare but the body corporate did not support these buyers’ use for the property,” he added.

Tags: 
Indooroopilly Strata Communities

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