McVilly Timber is putting its prominent Raglan Parade site on the market following the retirement of founder Barry McVilly.
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The company's general manager Anthony Westwick yesterday said it was targeting a smaller yard space in Warrnambool and no workers would lose their jobs in the move.
The sale will force the closure of McVilly Village Market, near Dennington, next month.
It will leave about 60 stallholders without a place to sell their wares only a year after the venue it opened.
Mr Westwick said the board of management had decided to downsize its operation at a meeting on Monday.
"While we enjoyed the market for a limited time, it's unfortunate but we have to move forward and concentrate on our core business, which is timber," Mr Westwick told The Standard yesterday.
The Raglan Parade property will be put up for auction on March 17.
McVilly Village Market manager Eliza Whitaker said the market’s last trading day would be March 11, although The Standard is aware of some stallholders who are closing next week.
“Most of them are quite shocked and disappointed I guess, (but) most are looking to go somewhere else or for other opportunities,” Ms Whitaker said.
The market opened in the former hardware shed in February last year after stallholders floated the concept, growing from about 30 different stalls to operate at near full capacity.
It was in competition with Boulderwood Antiques Collectables Giftware in the former “Stonehenge” building and the Mill Markets, which operate out of Fletcher Jones.
The McVilly land, which is on the former Mitre 10 site on the western edge of the city, is also home to West Island Nursery. Its future is unclear.
Mr Westwick said the site was “too big for our needs” and was anticipating there would be no impact on staff or customers in the transition to a new home.
Mr McVilly is retiring after 35 years at the helm of McVilly Timbers and various other companies.
The sale of the property is being handled by real estate agent Brian O’Halloran and Co.
The site will be offered vacant, giving buyers the opportunity to use the large commercial facility as they wish.
