BMW dealership to drive major Melbourne sale

The property that is home to a BMW car dealership at Bundoora in Melbourne’s northern suburbs is up for sale.

BMW Bundoora operates its sales showroom and service centre from the 15,210sqm site, which includes a new BMW Body Shop – touted as one of the largest and most technologically advanced BMW repair centres in the southern hemisphere.

The ASX-listed Autosports Group has a five-year lease on the dealership, paying $1.44 million annually, and owns another 34 dealerships across Australia.

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CBRE’s Mark Wizel, Justin Dowers and Kevin Tong have been appointed to market the property, which will be sold via expressions of interest, on behalf of its private owner.

Wizel says the property, which has street frontage onto the busy Metropolitan Ring Rd, is the go-to for other BMW dealerships’ servicing.

The Bundoora BMW dealership has a state of the art service centre.

“BMW Bundoora forms a key part of the BMW sales and service offering in the inner suburbs,” Wizel says.

“The service centre is partnered with BMW Doncaster, from which many of the vehicles are transferred to Bundoora for servicing.”

Dowers says the site is also likely to attract attention from developers.

“The appeal of this asset is further enhanced by its prominent position in Melbourne’s booming northern growth corridor, which is forecast to experience population growth of 18.3% between 2017 and 2022,” he says.

The expressions of interest campaign closes on Thursday, July 6.