Prime Altona swim school property heads to auction
The longtime home of Sweeneys Swim School at 116 Pier St is heading to auction with a $3m price guide, offering landmark land content and benchmark scope for development in the heart of one of Melbourne's fastest-growing bayside precincts.
Known to generations of locals, the site has housed the swim school since 1988 and spans approximately 938sq m.
The building's 615sq m footprint includes a heated indoor pool, squash court, changerooms, reception and on-site parking, just two minutes' walk from Altona train station and around the corner from the beach.
Offered as a freehold-only sale through an executor's auction, the property is securely leased until 2027 with two five-year options, delivering a $170,018 annual return plus GST and outgoings, and 4.5 per cent annual increases.
Fitzroys' Ervin Niyaz and David Bourke, in conjunction with Harry Karageorge of Sweeney Real Estate, are handling the campaign and expect strong interest from investors, land bankers and developers seeking a prime mixed-use project site with five-storey potential.
Mr Niyaz said the opportunity was rare for Pier Street and packed with upside.
'This is a true landmark holding with five-level development potential and a secure tenant that's been part of the west for nearly 60 years,' he said.
'Buyers can land bank it with confidence while preparing plans for a new chapter in Altona's main street.'
Mr Bourke added the site's zoning and scale offered serious scope for a residential or retail-based development in a lifestyle-rich and highly connected suburb.
'It's rare to find nearly 1000 square metres on Pier Street with zoning that supports major growth. Add in a tenant like this and you've got a standout opportunity,' he said.
Sweeneys Swim School was founded by Joan and Leon Sweeney in 1968 from a backyard pool in Queen Street.
In 1988, they relocated to Pier St to meet surging demand, becoming the first private swim school in Melbourne's west.
'This building has been part of local family life for decades — now someone else has the chance to define its next evolution,' Mr Niyaz said.
The on-site auction will be held Wednesday, July 9 at 12pm.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
35 minutes ago
- News.com.au
Former Wiggles chief executive Luke O'Neill sues children's group under Fair Work Act
The former chief executive of The Wiggles – who left after just over a year into his role – has lodged Federal Court proceedings against the popular children's entertainment group. Luke O'Neill was named the children's music sensation's first chief executive last year, according to aNb Media, with his role focusing on 'expanding The Wiggles' digital footprint, developing new products and expanding the commercial operations of the business'. Mr O'Neill had worked as a consultant with The Wiggles since mid-2023 prior to stepping into the new role. His LinkedIn profile states he finished the role in August 2024. In a Federal Court application filed earlier this week, Mr O'Neil has lodged proceedings under the Fair Work Act against The Wiggles, the group's leader Anthony Field and its general counsel Matthew Salgo. The application has been made under the Fair Work Act alleging 'dismissal in contravention of a general protection'. The Fair Work Commission's website outlines general protections laws prevent employers from dismissing employees for specific reasons – such as taking long periods of sick leave or if they are fired for making a complaint under workplace rights. Details of Mr O'Neill's application and complaint against The Wiggles and the other respondents is not known. Mr O'Neill's legal team Wotton Kearney declined to comment when contacted by NewsWire. A hearing date has not been set and defences have not been filed by the respondents. In a statement, a Wiggles spokeswoman said: 'This relates to a current legal proceeding and as such we will not be commenting on it.' Mr O'Neill's role as chief executive involved 'ensuring that The Wiggles can continue to self-fund innovative, educational and entertaining content and extend distribution to reach larger audiences than ever before', aNb Media stated when he took on the role. 'The Wiggles have always been pioneers in delivering high-quality, educational, and entertaining content for children,' Mr O'Neill told the outlet in 2023. 'I am thrilled to lead the team as we explore new opportunities in the digital and commercial spaces and expand our global presence. Together, we will continue to create memorable experiences for children and families around the world.' Kate Chiodo, who has worked in various roles with The Wiggles, was appointed the new chief executive in May.
News.com.au
an hour ago
- News.com.au
Closing Bell: ASX rebounds, fuelled by utilities gains
ASX rebounds to set new intraday high, up 0.53pc Origin Energy leads gains alongside utilities sector Unemployment rate falls, lowering interest rate cut chances ASX sets new intraday high The ASX rebounded powerfully from yesterday's profit taking, adding 0.53% or 46.7 points by the end of the day. The market briefly touched a new intraday high of 8899 points, but couldn't hold the gains to mark off a new record close as well. We're currently sitting 0.28% off that intraday high. Today's hero was the utilities sectors, riding high on a surge in Origin Energy (ASX:ORG) shares (+6.3%) alongside some other solid performances among its brethren. The gas and electricity provider lifted underlying profits by $307m year-on-year and offered up a second 30c dividend to bring the financial year's full offering to 60c a share. AGL Energy (ASX:AGL) also climbed 2.5%, while Genesis Energy (ASX:GNE) lifted 2.8% and Energy World Corp (ASX:EWC) 1.7%. Overall, eight of 11 sectors finished higher and the Banks (+1.3%), Tech (+1.3%) and Gold indices (+0.33%) lent their momentum to boot. Looking for coverage of today's earnings reports? Check out our midday Lunch Wrap courtesy of the preeminent Eddy Sunarto for deets on Westpac (ASX:WBC), Suncorp Group (ASX:SUN), Pro Medicus (ASX:PME), Temple & Webster (ASX:TPW) and South32's (ASX:S32) earnings performances today. More Australians employed more efficiently The ABS released its employment stats today, which fell overall in line with expectations at 4.2%, with 25,000 jobs created in the past month. The numbers tell a story of a more efficiently employed workforce, too – part-time workers fell by 36,000 while full employment lifted by 60,000 positions. Our underutilisation rate – which combines unemployment and underemployment rates – fell by 0.2% to 10.1%, maintaining an ongoing downward trend. Women's participation in the work force hit a record high this month, with the participation rate reaching 63.5%. 'Trend annual employment growth has been faster than population growth for most of the past year, but has slowed in recent months to be in line with annual population growth in July,' ABS head of labour statistics Sean Crick said. The numbers were exactly in line with both the market's and the RBA's expectations, lowering the expectations for a September interest rate cut to 35% according to the ABC's business blog. That said, expectations for a rate cut before November are still high at 78%. ASX Leaders Today's best performing stocks (including small caps): Code Name Last % Change Volume Market Cap ATV Activeport Group Ltd 0.023 142% 1.52E+08 $6,526,282 GGE Grand Gulf Energy 0.002 100% 804209 $2,820,425 MRD Mount Ridley Mines 0.004 60% 46808312 $1,946,223 CRB Carbine Resources 0.006 50% 2879525 $4,000,652 MEL Metgasco Ltd 0.003 50% 100000 $3,674,173 PRM Prominence Energy 0.003 50% 15207265 $972,941 TMX Terrain Minerals 0.003 50% 331104 $5,063,629 OLY Olympio Metals Ltd 0.13 44% 593543 $9,276,057 BPP Babylon Pump & Power 0.007 40% 8348639 $19,034,455 MMR Mec Resources 0.007 40% 9922730 $9,248,829 CR9 Corellares 0.004 33% 750000 $3,021,809 DTI DTI Group Ltd 0.008 33% 66887 $5,382,617 BPH BPH Energy Ltd 0.012 33% 21504358 $10,964,095 FUL Fulcrum Lithium 0.078 26% 460054 $4,681,000 FRB Firebird Metals 0.175 25% 4568697 $19,930,596 BLU Blue Energy Limited 0.01 25% 3181706 $14,807,789 DBO Diabloresources 0.02 25% 1983870 $2,689,854 DTM Dart Mining NL 0.0025 25% 10091666 $2,396,111 CAN Cann Group Ltd 0.016 23% 1108697 $8,466,991 IS3 I Synergy Group Ltd 0.011 22% 4113289 $15,356,699 WTM Waratah Minerals Ltd 0.75 22% 4837566 $143,610,044 DTR Dateline Resources 0.2 21% 57147520 $527,867,058 BB1 Blinklab Limited 0.53 20% 862076 $38,394,908 SOR Strategic Elements 0.042 20% 2378280 $16,586,467 FBR FBR Ltd 0.006 20% 4066783 $28,447,261 In the news… Activeport (ASX:ATV) has launched Australia's first 'private cloud networking superhighway', Private-Cloud Connect, swiftly bringing three new customers on board. The networking infrastructure product offers high speed data communication ports, connecting branch offices to private cloud services hosted in colocation data centres. With AI and data-heavy cloud computing gaining rapidly in property, ATV reckons there's a solid market to corner in connecting private business with high-powered data centres. Health and wellness food company OMG Group's (ASX:OMG) Blue Dinosaur snack products are set to be stocked in 750 7-Eleven stores across Australia as part of a ranging deal. OMG has been building strong sales momentum in recent months, increasing cash receipts by 42% to more than $1.6m quarter-on-quarter. ASX Laggards Today's worst performing stocks (including small caps): Code Name Last % Change Volume Market Cap GGE Grand Gulf Energy 0.001 -50% 31455 $5,640,850 BEL Bentley Capital Ltd 0.015 -42% 4318593 $1,979,326 DTM Dart Mining NL 0.002 -33% 21263802 $3,594,167 PRM Prominence Energy 0.002 -33% 255120 $1,459,411 SKK Stakk Limited 0.005 -29% 8192 $14,525,558 AQX Alice Queen Ltd 0.003 -25% 151531 $5,538,785 AYT Austin Metals Ltd 0.003 -25% 4674800 $6,336,765 MRQ Mrg Metals Limited 0.003 -25% 691143 $10,906,075 AQC Auspaccoal Ltd 0.008 -20% 7558757 $7,004,676 ARV Artemis Resources 0.004 -20% 350432 $14,328,361 OSX Osteopore Limited 0.008 -20% 8341781 $2,372,600 TMX Terrain Minerals 0.002 -20% 1446699 $6,329,536 VRC Volt Resources Ltd 0.004 -20% 27625 $23,424,247 OZM Ozaurum Resources 0.062 -17% 2193670 $17,182,640 SRK Strike Resources 0.029 -17% 150000 $9,931,250 EVE EVE Health Group Ltd 0.03 -17% 115684 $8,863,557 IXC Invex Ther 0.075 -17% 1332 $6,763,846 1AD Adalta Limited 0.0025 -17% 2078341 $3,463,949 FBR FBR Ltd 0.005 -17% 2494829 $34,136,713 GLL Galilee Energy Ltd 0.01 -17% 300000 $8,486,315 MRD Mount Ridley Mines 0.0025 -17% 323599 $2,335,467 SPQ Superior Resources 0.005 -17% 7554456 $14,225,896 TMK TMK Energy Limited 0.0025 -17% 12258062 $30,667,149 BVS Bravura Solution Ltd 2.02 -17% 13434796 $1,085,016,685 FNX Finexia Financialgrp 0.17 -15% 145035 $12,460,793 In Case You Missed It Legacy Minerals Holdings (ASX:LGM) has reported promising early diamond drilling results from the Thomson project in western New South Wales. DY6 Metals' (ASX:DY6) preliminary metallurgical testing of ore from the Tundulu rare earths and phosphate project in Malawi has identified the opportunity to produce a phosphoric acid grade flotation concentrate co-product. Sipa Resources (ASX:SRI) has wrapped up RC drilling and is preparing to get an aircore program underway at the Tunkillia North and Nuckulla Hill gold projects. Argenica Therapeutics (ASX:AGN) now has a clear path forward to clear the clinical hold currently in place on its investigational new drug application that will enable clinical trials for its lead drug ARG-007. Trading Halts
News.com.au
an hour ago
- News.com.au
Smart mare Yellow Sam changes ownership for $305k before Group 2 PB Lawrence Stakes at Caulfield
A PB Lawrence Stakes runner will have a new owner for Saturday's Group 2 contest at Caulfield. Smart mare Yellow Sam, the winner of eight of 19 starts, was sold for $305,000 via an Inglis online auction earlier this week. Yellow Sam attracted the hefty price as a racing and breeding proposition partly because of her win in the Group 3 Vamos Stakes at Hobart in February last year. The six-year-old also finished third at her last appearance in the Group 3 Bletchingly Stakes at Caulfield on July 26. The purchaser, Dodmark Thoroughbreds, indicated the six-year-old would remain in the care of trainer Lindsey Smith. Yellow Sam has been specked from $21 to $17 in PB Lawrence Stakes betting. Yellow Sam fetched the second highest price in the online sale behind speedy mare Cleo Cat, who fetched $355,000. Leviathan owners Yulong, bidding under the name Walnut Farm, bought the Tom Dabernig-trained Cleo Cat, who is spelling after her last-start fourth in the Group 3 Monash Stakes at Caulfield on July 12. Caste. Caste won the Group 2 Queen of the South Stakes in South Australia in 2023 but has not raced since finishing fifth in the Listed Seymour Cup last October. Fisherman's Beach. Fisherman's Beach finished eighth at The Valley last Saturday. The Williams family also sold the former Joseph O'Brien-trained import Rosso for $45,000.
