Leongatha Newsagency freehold for auction

OFFERED for the first time in 50 years, the Leongatha Newsagency freehold will be auctioned at Crown Casino, Melbourne on Wednesday, March 29 at 10.30am.

The sale of the property at 30 Bair Street will end a long association the Watchorn family has had in both the building and formerly the newsagency business.

One of the building’s owners, Terry Watchorn, remembers the building was constructed by Stan Stubbs in the early 1960s for W Burrows and Son.

“We bought the building in 1973 and I remember back then it had ducted heating throughout which was a bit of a new thing,” Terry says.

“My late wife Gwenda and the three boys moved to Leongatha and I would say this was the happiest time of our lives.”

“We made lifelong friends with so many people. It was the fulfilment of our business lives”.

“We employed a lot of paperboys back then giving them their first job. I would say to them if you had 45 deliveries you have 45 customers to look after.”

The busy business is home to the Nextra Leongatha Newsagency which also incorporates other national chains Officechoice and Tattslotto.

The business owners renewed a five-year lease to October 2027 plus there’s an option through to October 2030.

The current newsagency owners struck it lucky for one of their customers when on March 6 they sold the winning $1,000,000 Tatts ticket.

The building of approximately 325 square metres enjoys one of the most prime positions in Leongatha being next to the ANZ arcade and has front access to Bair Street and rear access to the large council carpark near the IGA supermarket.

The owners of the business have an extensive range of office furniture and supplies, books, papers, magazines, gift lines and the busy Tattslotto agency.
Bair Street has in recent years undergone a total reconstruction following the diversion of the highway away from this street including a new road surface, street furniture, wider pedestrian footpaths and more pedestrian crossings.

Shop owners have in turn refurbished their own buildings and have since attracted a range of new tenants. 

Vacancies in the street have reduced substantially since the South Gippsland Shire undertook the reconstruction works.

Current rent for 30 Bair Street, Leongatha is $55,712 plus GST.

Enquiries can be directed to either Andrew Newton at Alex Scott and Staff 0402 940 320 or Raoul Holderhead at Burgess Rawson on 0413 860 304.