Former Jooce nightclub for sale
Ringwood’s former Jooce nightclub is for sale.
Now a prime development site in an activity centre – the local council would be prepared to see 93-97 Maroondah Highway replaced with something multi-level.
The 7015 sqm block with three street frontages is near 301 Maroondah Hwy, which 94 Feet is replacing with an apartment tower and Sebel hotel.
At 16 storeys, that proposal is set to be suburb’s tallest.
Several c10 floors have been constructed around Eastland Shopping Centre, near 93-97 Maroondah Hwy.
Gill Property’s Steve Bolton, Graham Hemingway and Steve Messina are marketing the ex-bar.
It is nowadays a showroom deriving total annual rent of $333,575 from two occupiers: Rivers and Genesis Gym (the latter on a lease expiring in 2025).
The improvements contain 5259 sqm.
The L-shaped Commercial 1 zoned site also has 92 car parks.
It opposite the suburb’s Costco, which opened in 2013. Aldi, Bunnings and Coles are nearby (story continues below).
Ringwood, 23 kilometres east of the city, has for decades been considered a major activity centre by state government planners.
The Gill agents said 93-97 Maroondah Hwy could accommodate structures of up to 28.5 metres, so about 10 levels.
Ringwood on the radar of major players, now
In 2018, Pellicano and Camlen Property sold a Ringwood office on a funds-through basis to a Macau investor for $28.2m.
Due for completion this year and pre-committed to the state government, that asset, 62 Maroondah Hwy, will rise five floors with 3225 sqm of area and 74 car parks.
Also two years ago, a local family paid $11m for a collection of commercial buildings covering an 8067 sqm Commercial 2 zoned plot, between 154-166 Maroondah Hwy.
Last May Sector Property Group acquired 93A Heatherdale Road, Ringwood, to replace with nine warehouses, five strata offices and 55 self-storage units.
QIC Global Real Estate recently completed a $575m refurbishment and extension of its Eastland Shopping Centre, too.
