Trevan’s River Street site up for sale
Ballina’s Trevan Ford building on River Street is up for sale, according to the Gold Coast on-line website.
The holding, at 166-174 River Street, is being sold under the instructions of a liquidator for company R H Trevan, associated with Ballina and Lismore automotive industry figures Jack Trevan and Robert Trevan.
Agent Michael Shay, of LJ Hooker Ballina, told the Gold Coast site that the Trevan family had held the two-lot property since the mid-1930s and it was now being sold to resolve a legal disagreement.
He said the site, at present occupied by a commercial building, was ideal for a low-rise development incorporating retail, offices and residential.
The property also has frontage to Fawcett Street where it overlooks Lance Ferris Park and the Richmond River.
Mr Shay said a building up to 16m high was permissible on the site under Ballina Shire Council planning regulations.
The property comprises a 1372sqm landholding that is occupied by The Trevan Building, which has about 1290sqm of floorspace.
Tenants include NRMA, Brumby’s Bakery, women’s fashion outlet, offices and a Trevan Ford servicing depot.
Lease terms range from month-to-month to five years, with the longest lease in place until June, 2011.
The property returns annual net income of just over $146,000.
The most recent River Street sale on record is of the 1012sqm property housing the Henry Rous Tavern, which changed hands for $1.85 million in January, 2007.
The tavern is almost opposite the Trevan property and does not have water frontage.
The Trevan Building is listed for auction on May 22.
