South Oakleigh Bowls Club is selling its prime Bentleigh East site after winding up.
The 5145 square metre parcel at 1 Victor Road could trade for more than $8 million.
In this instance, as the property has 40 electronic gambling machines, hospitality investors might outmuscle residential developers – but both are being targeted.
The existing structure, or any taller one, would enjoy views over the neighbouring Yarra Yarra Golf Club.
Savills’ Clinton Baxter, Nick Peden and Mark Stafford are the agents.
Demographics, lifestyles and patronage
Like other sporting facilities in recent years, changing lifestyles and demographics has negatively affected membership/patronage.
In 2018, Steller acquired the former Highett Bowling Club at 32-40 Graham Street – which sold a year later to Ryman Healthcare for a $180m aged care complex.
Also last year, the Southern Indoor Bowls Centre at 348-354 Hawthorn Rd, Caulfield South, was divested after five decades to a residential developer; the price, $10.26m, was $1m over reserve.
Across town in Preston, a bowls club on 5000sqm at Murray Rd traded in 2009 after a century – it also made way for apartments (story continues below).
Eight months ago we reported Brisbane’s vacant Indooroopilly Bowls Club, which shut in 2015, would make way for a premium quality wellness precinct with a fitness centre, yoga studio and café.
Former South Oakleigh Bowls Club
The South Oakleigh Bowls Club contains a recently refurbished 1600 sqm building utilised by the former occupier as a hospitality and live music venue.
It is licensed, with a large bar, and has a commercial quality kitchen.
Part of the block is configured as a car park.
There are also eight bowling greens, a practice course and a building used for maintenance which is surrounded by a paved space.
A neighbouring former car park is being replaced with three storey townhouses.
The ex-South Oakleigh Bowls Club site could also accommodate a structure this tall, or higher if the use is medical or aged care.
The property is walking distance to St Bede’s and The Links Shopping Centre, about 15 kilometres south east of the CBD.