Barwon Heads institution Starfish Bakery for sale after 25 years
Starfish Bakery owner Paul Fox and daughter Cleo have decided to list the business and freehold for sale. Picture: Alison Wynd
Barwon Heads residents are waiting with bated breath as the net is cast for a new owner for the town’s much-loved Starfish Bakery.
The family-owned business – run by former couple Paul Fox and Dinah Karklins for the past 25 years – has been listed for sale, along with the freehold property.
The local institution occupies a premium position in the town’s vibrant main street, with steady foot traffic boosted by an influx of weekend and holiday visitors.
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Bellarine Property, Barwon Heads agent Levi Turner is selling the 623sq m site and the business via an expression of interest campaign with circa $3m price hopes.
He said the Starfish Bakery kick started Barwon Heads’ cafe culture when the owners moved down from Melbourne in 1998 and went on to established itself as a favourite haunt.
But it’s the flexibility of the mixed used freehold site which is so far gathering attention from buyers who recognise its future scope for development and other potential commercial uses.
“I don’t think anyone is going to be happy with me when I sell it because it’s such an institution,” Mr Turner said.
“It is both freehold and business, fingers crossed we find the right person that wants to buy both and continue running the business in one way shape or form.
The 1950s double brick building has retro charm, with an outdoor seating area.
The Starfish Bakery’s muffins are a popular menu staple.
“But that may not happen, we will just see how it evolves.”
The freehold site, at 78 Hitchcock Ave, Barwon Heads, is currently home to a 1950s double brick building with a commercial bake room, large cool room and indoor and outdoor dining areas.
The original cottage, used for storage still stands at the rear of the block, which also offers side vehicle access.
Mr Turner said the sale presented a rare opportunity to build on the success of an established business and a secure a freehold asset with value-add potential.
The bakery is just a short walk from the Barwon River.
Shaded tables outside are a popular choice with customers.
“If I look at the inquiry so far most of it has been from investors because you don’t get a lot of full-sized block freehold sites in Barwon Heads that come up for sale,” he said.
“Most of the interest has been from people to just buy it and basically hold it.
“I really hope someone keeps the building … but someone might buy it and develop it and knock it all down, that’s obviously an option.”
He said almost every other similar site in Hitchcock Ave had been redeveloped, with the exception of the building that houses the Che Vuoi Italian restaurant.
“They renovated it so I’m hoping someone does something similar here because it’s quite a cool building and it would be nice to keep a bit of that character in the town,” Mr Turner said.
Expressions of interest close on March 6 at 4pm.
