A new indoor swimming centre built for the Taren Point Swim School has been sold at auction for $3.3 million.
The receivership sale followed unsuccessful attempts by swim school operator Bruce Abbot 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.
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. Caringbah Home will be redeveloped and several businesses needed to relocate.
