Following the 2014 appointment of Worrells Partners, Morgan Lane and Michael Griffin, as liquidators of the Indooroopilly Bowls Club Inc., the property has now been sold.
The Indooroopilly Bowls Club site was attached to The Body Corporate for Ciana CTS 39483 and had Brisbane City Council and Body Corporate approvals for the property to operate as a bowls club. Despite various interested parties, numerous change-of-use applications and being under contract, the property located directly below 134 residential apartments has remained vacant for some five years.
The 4,507 square-metered property sale settled for $1.3 million last week.
A unique youth-orientated functional movement training facility called ‘Fitter Futures’ is expected to open from 7 October 2019 after a full refurbishment that will make use of the building and greens. The facility is relocating from the Sherwood Football Club at Chelmer and two new separate businesses, including a yoga studio and café, are also earmarked for the property.
Worrells engaged Knight Frank’s Adam Willmore to the long-running expressions of interest campaign and to negotiate the ultimate sale.
Mr Lane said, “We’re pleased to get this result for the Body Corporate members and the local community. Knight Frank was instrumental in the process by working relentlessly over the years exploring the viability of over 100 enquiries from buyers with diverse plans for how to use the property. It’s also a testament to how an insolvency appointment can bring about new possibilities for local business.”
Worrells has 31 offices nationally and 29 partners, across Qld, NSW, ACT, Vic, SA, and WA. Worrells has been providing solvency management, insolvency administration, and forensic investigation services for over 45 years.
Morgan Lane, Partner
07 3225 4330