A service station near a major Manningham shopping centre could make way for an international hotel brand.
And while the names of the two hotel brands remain secret for now, Chestertons International Melbourne confirmed they were circling the Caltex site close to Tunstall Square.
A new owner would have to give the oil company six months notice if it decides to demolish the Doncaster Rd service station.
The block has four street frontages including Tunstall carpark service roads.
Chestertons chief executive Theo George said while no deal had been finalised the offer had attracted interest from “two well-known hotel brands”.
“One group is considering a branded hotel and serviced apartments all as part of the one complex,” he said.
Mr George said there was a broad range of potential uses of the site.
“There’s a plethora of development options like residential, commercial, showroom, aged care or mixed use,” he said.
“It’s an amazing opportunity for an astute developer and investor to get a strong foothold in the marketplace.”
A new owner would also have the option to continue the lease with Caltex returning about $148,000 a year, according to a listing on commercialrealestate.com.au
Extracted from Herald Sun