New indoor pool sold after collapse of Taren Point Swim School

The receivership sale followed unsuccessful attempts by swim school operator Bruce Abbott to get finance to complete the project.

About three months’ work remained when the project came to a halt in August last year after $600,000 could not be raised to continue construction.

Colliers International agent Trent Collier said the Wurrook Circuit property was sold for $3.3 million to an investor, who had a tenant lined up to use it for a swim school.

The gates at the new swimming centre in Wurrock Circuit were locked after work stopped in August last year. Photo: John Veage

Conversion of the building into a warehouse or offices and a showroom were other options advertised for the property.

Mr Abbott was left devastated by the collapse of the project.

He said he had lost his home, his marriage had broken up and he was receiving medical treatment.

“There were a couple of people who were interested in bidding who wanted me to help them, but I don’t think I am up to that at the moment,” he said.

“I am just going to try and switch off.”

The Taren Point Swim Centre closed in April this year.

Mr Abbott intended to move the school to the new centre when his lease in the Caringbah Home retail centre expired.

The centre is to be redeveloped and the swim school was among businesses that needed to relocate.

Mr Abbott said in March this year the new centre was originally expected to cost $1.8 million.

However, the projected final cost had risen to $3.3 million, which he said was due to mistakes by others, including a bank, before construction started.

Colliers International advertised the property as “a unique opportunity to purchase a vacant purpose built swim school facility in the established commercial/industrial precinct of Caringbah”.

“The existing facility was purposely built to cater for a large swim school centre, which is near complete.

“The building requires additional construction works to bring to completion.

“The property in its current form consists of a medium clearance warehouse, 25 metre in-ground pool, ground floor amenities, reception area, concrete mezzanine, wide driveways, ample front yard for car parking and easy truck access.