Watsons Bay general store on the market

For the first time since the early 1970s, the Watsons Bay general store is on the market, with the adjoining building included in the sale.

Marketing agent, Evan Williams of Ray White Double Bay says the properties are likely to fetch more than $4million.

The general store has remained in the same family for more than 40 years. Owner, Michael Georganas, ran the family business with his father.

“The family owned and operated the Watsons Bay General Store and it was their livelihood for decades.

“They purchased the adjoining building about eight years ago and now both properties are being offered in one line,” Evan explains.

The sale includes two four bedroom properties and two shopfronts with wide frontage.

“This is a great opportunity, whichever way you look at it. Both properties have longstanding tenants while the site also possesses incredible development potential, subject to council approval of course,” Evan said.

As one of the iconic buildings of the suburb, Evan suggests this is a rare offering.

“This is the first time these properties have ever been offered in one line and the first time the general store has been on market since the 1970s. I’ve already had a heap of calls from developers - they immediately saw the potential of the site.

“These type of sales seldom come to market, particularly in areas such as Watsons Bay. As a local, I can confidently say an opportunity like this won’t come up again soon,” he said.

Featuring solid sandstone foundations and bay views from the upper level, the properties also include:

• 9 beds, 5 baths, garaging for 4 cars
• Separate 2 bed unit with private access
• Popular shopfronts with studio/prep areas
• 2 courtyards + 2 massive gas kitchens
• High ceilings and generous proportions
• Rear lane access, metres to city buses & ferries