AN incredible commercial opportunity has opened up in the Bathurst central business district, with the historic Webb Emporium now up for sale.
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The circa 1864 George Street property has just hit the market and is expected to sell for in excess of $8 million.
The property has a total land area of 4653 square metres, and includes five lots and four buildings offering the Webb Emporium Building, The Old Hattery, the original Cobb & Co Ticket Office, a shed and 2000 square metres of vacant commercially zoned land.
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This sprawling building was originally built for Edmund Webb as one of Bathurst's first shopping centres.
At the rear of the building is the original Cobb & Co Ticket Office and Stables, which was a major pitstop for regional travellers.
In addition to retail spaces, the complex was also involved in the manufacture of hats, saddlery, linen and men's and women's clothing.
Real estate agent Mark Sullivan, of @realty, said it was the most significant listing of his career to date.
"From my career, it's certainly the largest listing I've had the honour to represent and it's certainly been the most complex to put together to make it easier for someone to buy," he said.
"... I think it's got the best location of any property I've listed in Bathurst and I think it's got the most potential to add value and for a buyer to gain a return on investment."
The property now owned by Robert Lee, who purchased it back in 2005.
"He's now got another opportunity that he wants to pursue, so he's just diverging that asset to move on to the next one," Mr Sullivan said.
Mr Lee has spent millions on renovating and restoring the property, which Mr Sullivan thinks has made it more attractive to potential buyers.
Due to the size of the site, its layout and the B3 commercial zoning, there is great potential for future development.
"What is does have, which is very valuable, is 2000 square metres of B3 commercially zoned land that is right in the middle of the CBD, and that of course can be used to build anything you wanted to; you could build accommodation you could build new offices," he said.
"B3 Commercial Core has got amazing usages, you can build a hotel, a motel, anything like that. Obviously everything needs council approval, but it's amazing."
Mr Sullivan is accepting expressions of interest on this property until 4pm on April 16. Interested parties can contact him on 0429 954 990.
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