Colliers expecting above $8m for coastal city site

Corio, Geelong

The Colliers team of Jordan McConnell and Jonathan Lumsden have the exclusive listing with interest expected above $8 million for an industrial site in one of Australia’s fastest growing cities.

Colliers says the agents are managing the property on behalf of multinational integrated energy company BP.

“Commercial and industrial developments remain firmly on the radar for a range of purchaser profiles,” says Jordan.

“With Geelong being Australia’s second fastest growing city, we expect the opportunity to be highly sought after from both developers and investors.”

The commanding corner site at 232-244 Princes Highway, Corio is one of the best development offerings in Geelong, with a prominent 1.67-hectare footprint and versatile Industrial One zoning.

“This is a rare commanding corner site, with 126m primary frontage to Princes Highway,” says Jonathan.

“Rarely does a site of this size become available, as we continue to see solid interest from national occupiers looking to position themselves within the Geelong Northern Corridor.”

The site is adjacent to The Gateway entertainment venue and close to major retail brands, making it an attractive destination, with the potential for a showroom/industrial warehouse development.

Several infrastructure and development projects in the Geelong region have boosted the demand for industrial offerings, including the Geelong Port and Spirit of Tasmania, the Outer Metropolitan Ring/E6 Transport Corridor, and the Geelong Fast Rail.

Located within the Northern Corridor and with exposure to 40,000 passing vehicles daily, the site has easy access to arterial roads – adding to the appeal.

A skilled and adaptable workforce of approximately 120,000 jobs in Geelong is supported by an emerging and diverse economy, a world class health service, and an expanding creative and cultural scene.

232-244 Princes Highway, Corio is for sale via an expression of interest campaign closing Tuesday 12 September at 3pm (AEST).

For more information on Colliers, click here.

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