The purchase was part of a larger $10.5 million sale of the Clearwater Carwash business, of which the Punt Road site was a property asset. The property is on just over 2500 square metres of land, and includes 610 square metres of building area, currently used as a café and showroom.
The property has almost 50 metres frontage to Punt Road, between Toorak Road and Commercial Road, with side access to Argo Street.
John A Castran director and selling agent John Castran, who sold the business with Grita Angelucci, said the new owners are expected to operate a new restaurant from retail space in the car wash complex. The Baker Group runs several restaurant businesses in Melbourne’s inner city.
The purchase also gives The Baker Group retail space at a car wash in Nepean Highway Brighton, where Clearwater is a tenant. The value of Clearwater Carwash business was $6.35 million.
Mr Castran said Clearwater has operated using a “clean and green” water saving system which recycles water, and is endorsed by the State Government’s Smart Water Fund.