Bayswater Wine Cellars sells for more than $2 million to developer who ‘knows its rich history’

THE old Bayswater Wine Cellars has sold for more than $2 million to a local developer who, according to the real estate agent, “knows the site better than anyone”.

The Bayswater Wine Cellars site on the corner of Mountain Highway and Bayswater Rd has sold for more than $2 million. Picture: Steve Tanner

THE old Bayswater Wine Cellars has sold for more than $2 million to a local developer who, according to the real estate agent, “knows the site better than anyone”.

But the future of the historic Mountain Highway site remains unclear.

A Bayswater-based developer was the successful buyer of the 19th-century property, with the deal done yesterday.

WINE CELLAR SITE PASSED IN AT AUCTION

Colliers International agent Richard Wilkinson said the buyer “knows its rich history”.

“It’s in good hands,” Mr Wilkinson said.

“It’s not really being used as anything at the moment. Everyone would like to see it utilised. That’s the case of the individual that’s bought it.”

Colliers International auctioneer Richard Wilkinson failed to find a buyer at the auction for the Bayswater Wine Cellars site last month. Picture: Steve Tanner

Plans for the site were “unknown at this point”, Mr Wilkinson said.

Mr Wilkinson said the buyer, who he did not name, was planning to comment publicly once the settlement had gone through.

Mr Wilkinson would not give the exact price but said it was “in the vicinity of $500 per metre”, which equates to about $2.4 million for the 4827 sq m property.

The site was passed in on a vendor bid of $1.8 million at auction on November 23, leading to to two weeks of negotiations with potential buyers.

Mr Wilkinson said the sale price set a suburb-record land rate for its size.

The old wine shop is on the National Trust’s Victorian Heritage Database as having “local historical significance”, and anyone wanting to demolish it has to apply for a council permit.

Mr Wilkinson believed the reason it was passed in at auction was because of uncertainty around its heritage protection.

Inside the cellars now. Picture: Steve Tanner

The site attracted national interest after it went on the market in October and Mr Wilkinson said they spoke to “everyone from petrol stations to high-end showrooms, Coles and Woolies, all those type of retail users”.

Mr Wilkinson said the tall oak trees on the property would need a permit to prune or remove.

The site is zoned industrial and Knox Council city development director Angelo Kourambas said that could include industry, warehouse, commercial and some recreational uses.

Mr Kourambas said the council “would encourage uses that conserve the historical significance of the site”.

Bayswater state Liberal MP Heidi Victoria called on the State Government to provide greater heritage protection to save the historic building.

Ms Victoria said if elected, the Liberal National government would protect it by applying an interim protection order under the Heritage Act.

She urged the Labor Government to match that commitment.

Patrick Lane, spokesman for Planning Minister Richard Wynne, said “our heritage is our history and it should be protected” and reiterated the site was covered by local heritage protection.

The Bayswater Wine Cellars. Source: Heritage Council Victoria, Victorian Heritage Database