THE Bomaderry RSL Club site has sold for $4 million, with a Sydney-based child care developer purchasing the site.
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The 5669 square metre property, at 5-11 Bunberra Street, was offered for auction by Professionals Nowra and MMJ Real Estate Wollongong on Wednesday evening.
Tim Jones, of MMJ Real Estate Wollongong, said the new owner was a "very experienced, long-standing Sydney child care developer".
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"He has plans to do something on the site child care related," Mr Jones said.
It is understood the new owner already has operations in Sydney, Wollongong and Shellhabour.
"They develop, own and run centres," Mr Jones said.
"And they are very good operators.
"The plans as I understand at this stage are to utilise the existing building."
The auction, which attracted a good crowd to the club, was also open to on-line bidders, but in the end only three parties, including Shoalhaven City Council, placed bids for the property.
Two of the bidders were on the phone, while council's CEO Stephen Dunshea bidded from the floor.
Bidding started at $2.5 million with a phone bidder, before council bid $2.6 million.
Twelve bids saw the price rise to $3.65m where council bowed out.
The eventual buyer entered the bidding at $3.8m and after four more bids, including two by the successful purchaser, auctioneer Daniel Hastings knocked down the final bid of $4 million to secure the property.
The site boasts three street frontages, offering favourable design options for a future development, while access to existing car parks in Bunberra and Dalwah Streets.
Zoned B4 Mixed Use, the site is open to a mixture of compatible land uses subject to consent from business, office, residential, retail and other developments such as attached dwellings; boarding houses; centre-based child care facilities; commercial premises; community facilities; educational establishments; entertainment facilities; function centres; group homes; hotel or motel accommodation; information and education facilities; medical centres; multi dwelling housing; passenger transport facilities; recreation facilities (indoor); registered clubs; residential flat buildings; respite day care centres; seniors housing; shop top housing; or tourist and visitor accommodation to name just a few.
Mr Jones said at this stage it is not known if there are any other plans for the remainder of the large site.
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