SOLD: Beachfront business block goes under hammer for $9.25M

The jewel in the Con Souvlis estate has a new owner

THE prime Torquay block owned by Hervey Bay business pioneer Con Souvlis has sold at auction for $9.25 million.

The Quay went under the hammer at the Sydney Opera House on Tuesday.

Owned by the Souvlis family for more than 60 years, the block was the jewel in the late icon’s estate.

The historic sale comes after a strong marketing campaign which saw a major revamp of the precinct where Esplanade tenants include Tres Salsa, Australia Post and 19XO and the Betta store fronts Freshwater St.

Win Projects Managing Director Glen Winney said there were strong bidders from Melbourne, Sydney and Brisbane.

Bidding began at $6.9 million.

Ultimately, the buyer was a businessman who lives between Noosa and Sydney.

Asked what the new owner planned to do with the prime development site, Mr Winney said he bought it as a “longer term investment because of the quality of the tenants and good income stream” and that he may “expand upstairs sometime in the future”.

“The estate of Con Souvlis delighted with the result,” Mr Winney said

“It was a massive effort to bring this property to the market which included Win Projects, Burgess Rawson, Vision Property Management and Bell Dixon Butler lawyers put in months of work to bring this premier property up to 100% occupancy and make it saleable.”

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