Brimbank council has had a financial windfall with its former municipal offices being sold for more than twice their original estimate.
The former offices on Alexandra Avenue, Sunshine were sold at auction last week for $5.581 million, at least $2 million over the reserve.
Bidding opened at $2.3 million and more than 100 bids were received in the 45-minute auction before the site was eventually sold to a developer group.
Douglas Kay Real Estate agent Peter Kay said it was a fantastic result after a hard-fought auction.
“It was a marathon auction, and right to the pointy end there were three bidders with a mixture of child care uses, events centre and a redeveloper,” Mr Kay said.
“There are local heritage overlays on the building, but there are discussions about building into the building … I spoke to the council property office and they said they are exceptionally delighted with the result.”
The west wing of the former offices, which contains a large mosaic glass window, is protected by a heritage overlay, while a section of the front lawn was withheld from sale and will remain a municipal reserve. Several trees in the lawn area are also protected.
Brimbank mayor Margaret Giudice said council was happy to have the sale completed, and the funds will be poured back into community projects.
“Council is pleased that the former Sunshine municipal offices site, Alexandra Avenue, Sunshine has been sold at auction,” Cr Giudice said. “The outcome exceeded the valuation and council expectations and highlights the elevated demand for real estate in Sunshine.
“The decision to sell the former Sunshine municipal offices was part of the business case to construct the new Brimbank Community and Civic Centre. The proceeds from this sale will go towards delivering council services and/or infrastructure.”
It’s not yet known if the property would become a commercial property, a residential development, or a mix of both. Mr Kay said the successful bidder was already involved with another development in the Sunshine area.
