THE former CMI building in Delacombe is up for sale and is expected to sell for millions of dollars.
Agent for the vendor, Trevor Booth of Ray White Commercial, said yesterday tenders for the 1.5 hectare site would close on February 28.
Mr Booth also said the property was owned by separate owners and leased by CMI, which went into receivership on November 30 last year with the loss of more than 50 jobs.
“It’s a substantial building in terms of size, it’s a large site,” Mr Booth said.
“There’s a lot of old manufacturing buildings and offices.”
Mr Booth said the site was originally built as a munitions building during World War II.
“There’s been a lot of changes of use over the years,” he said.
Mr Booth said the site had three components, including the main manufacturing facility and warehouse space facing onto Latrobe Street, a separate plant at the rear and an old corrugated iron building facing onto Wallis Street.
“It was very well built in the day,” he said.
Mr Booth said he expected the site would be redeveloped.
“I think the buildings will be knocked down eventually but may be used temporarily while the site is redeveloped.
“I think with the way Latrobe Street is going and the development of Ballarat West, there will be a better use for that site.”
Mr Booth said the property would be for sale by tender.
“We will assess all the offers but I think it will be in the millions of dollars.
“It will be sad to see the old buildings go but it’s a good opportunity to create new buildings and facilities in this area.
“It will be a new opportunity opening up in this area of Ballarat.”