A vacant multi-level hospitality venue is being offered by receivers in Ringwood, with ‘blank canvas’ potential in one of the city’s growth corridors.
The site of 123–127 Maroondah Highway in Ringwood is a distinctive, purpose-built three-storey structure on 634sqm.
It previously operated as Bungalow beer garden and restaurant, under a 5am liquor licence.
It counts gross building area of 1,525sqm across the three levels, accommodating over 300 patrons, with substantial parking at the rear.
Equipped with full lift access, it was configured in a strategically designed layout allowing for all levels to be used in combination or with a separate ground floor tenancy. The lower level includes a terrace providing indoor and outdoor areas.
Ringwood is a suburb of eastern Melbourne that has grown in the past decade to become a major growth node toward the Yarra Valley, amassing significant commercial and office space, and retail shopping.
The prior operator closed last year, and the freehold property is in the hands of Controllers.
It is available through an Expressions of Interest campaign closing Thursday, 19 March, suggesting its suitability to “a range of alternative uses”.
A campaign by HTL Property’s Scott Callow and Dan Ryan, in conjunction with Ray White Commercial, expects the asset to attract both owner-operators and opportunities seeking a single or shared tenancy.
“The attractively designed building is exceptionally well located, positioned opposite the Rydges Hotel and in close proximity to Eastland Shopping Centre, placing the property at the centre of a thriving commercial and retail hub,” says Callow.
