Prime Altona swim school property heads to auction

It’s taught generations to swim, but what’s set to happen next at this iconic Melbourne’s west site has developers diving in headfirst.

Sweeneys Swim School has taught generations of children in Melbourne’s west to swim, now the pool site could make way for a five-storey development.

It’s where thousands of westside kids learnt to swim, where parents sat through decades of weekend lessons, and now, Altona’s best-known pool is going under the hammer for the first time in 37 years.

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.

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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.

The reception area forms part of the 615sq m building at 116 Pier Street, Altona, which includes a heated indoor pool and squash court.

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.

The 938sq m freehold block has more than 20m of frontage to Pier Street and is zoned Commercial 1, with potential for future mixed-use development (STCA).

MELAltona Beach is just a short walk from the property, adding lifestyle appeal and boosting the site’s long-term development potential. Picture: NewsWire / Andrew Henshaw

“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.

The property includes a rarely seen indoor squash court, part of a versatile layout that could support a range of future uses.

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.

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Originally published as Prime Altona swim school property heads to auction