Inchcape quits prominent Melbourne car yard
Inchcape will quit the prominent Docklands dealership occupied since 2002 for Subaru.
With the move, early next year, the 1.8 hectare holding, 99-109 Lorimer Street, is for lease.
Ideally, any rental agreement would be long term, according to Nick Theodossi, who with Ross Pelligra, picked up the property last August with a leaseback.
With c9000 sqm in two buildings and substantial hardstand, it is expected to attract a major franchise dealer.
Dealers shuffling sites
London based Inchcape sells new and used cars and runs a service centre from 99-Lorimer St.
When it offloaded the property, the dealer said proceeds would be tipped into a replacement.
The Docklands leasing campaign comes as BMW nears completion of its nearby multi-storey Kings Way, South Melbourne, tenancy (story continues below).
Coincidentally, that car maker sold a Southbank dealership in 2017 to Beulah International, which is now permitted to replace it with a mixed-use project topped with a 102 level skyscraper.
Mercedes-Benz also occupies in the area – at 135 Kings Wy, South Melbourne, which, like the Subaru dealership, has West Gate Freeway exposure.
In May, Karl Hagen and the family of late John Worrell sold the Carters Avenue, Toorak, site which for years accommodated Mercedes-Benz Toorak, for $67m to Orchard Piper which is planning apartments.
A major residential based development was also recently permitted to replace the former City Mazda yard at the top of Montague St, South Melbourne.
That car maker relocated to a property across the road, which goes by a Johnson St address, that previously accommodated Holden and Saab dealerships, and was for a short period, a nightclub, Neverland.
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