‘Exciting’ sale could fetch more than $2m

A prime piece of commercial property on Geraldton’s foreshore is attracting strong interest from both local and interstate buyers in the lead-up to its auction on Friday.

The high level of interest could push the sale price up to the mid to high $2 million range according to Prime Property director Oscar D’Souza.

“It is shaping up to be Geraldton’s most exciting and prominent commercial sale of 2014, ” he said.

The building located on the 964sqm site was previously occupied by Skeetas restaurant. The land is zoned Town Centre which lends itself to a variety of redevelopment options, including a mix of commercial and residential up to eight storeys high.

Ray White and Prime Property have the joint listing for the property.

Ray White principal Ian Wheatland said the site lent itself to an updated use of the existing restaurant with alfresco dining or redevelopment with a mix of accommodation and retail.