A consortium of four families has bought the former Mobil site in Eden – considered one of the best pieces of real estate of its size on the Far South Coast – with plans for a new commercial and residential hub.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Snug Cove Developments, which was set up by the families from Eden, Pambula and Merimbula last year to buy the prime 8000-plus square metre waterfront site, settled on the deal late last week.
The price has not been disclosed.
The planned development will take full advantage of the federal and state governments’/council funded wharf extension and safe harbour project.
The new precinct will comprise commercial buildings along Weecoon Street – which will connect with the main spine of the wharf extension – residential buildings along By Street, together with public space and pedestrian links, to be developed over three stages.
The site is zoned B4 mixed use which allows a variety of business ventures including commercial premises, hotel or motel accommodation, shop top housing and passenger transport facilities.
Its sloping nature will accommodate two-storey buildings with views over the bays and beaches.
Neil Rankin, of Neil Rankin Builders in Pambula, is one of the four new owners and said he felt “blessed for securing such a beautiful block of land”.
Snug Cove Developments design and development manager as well as co-owner Mark Baker said the project could start within 12-18 months.
Mr Baker said while this was a “stand alone” project the company looked forward to working side by side with the cruise industry and safe harbour proponents.
He said the company had been involved in talks with NSW Crown Lands and Bega Valley Shire Council to ensure their plans “moulded” into the federal/state/council master plans.
The owners are Mr Rankin and Karen Morse from Eden, Don and Nola Hassan from Pambula, Mr Baker and Liza Baker from Merimbula, and a fourth Eden couple.
Mobil listed the Eden site and a number of its other surplus properties across Australia with international commercial real estate company CBRE. The site was remediated by Mobil.