Archive for June 2019

Archive for June 2019

New life for old Ford site

GEELONG’S busiest commercial strip stands to benefit as potentially thousands of people return to work at the old Ford site over the next few years, a leading real estate agent says.

Darcy Jarman agent Tim Darcy said the Ford site’s new owners Pelligra’s plans to create the Fortek Geelong precinct on the old factories would be positive for the Melbourne Rd strip north of Separation St, which he said was Geelong’s busiest in terms of daily traffic flow.

Mr Darcy’s comments follow the sale of a North Geelong warehouse to a local business and a leading Melbourne motorcycle parts retailer signing a lease to open its first Geelong store.

Mr Darcy said there’s clearly now a vision for the transformation of that site, with Pelligra’s long-term view to its investment a positive for business activity in the northern corridor.

“To think you’ve got a major manufacturing facility that’s redundant on the main arterial road is not ideal,” he said.

“The fact that it’s going to be transformed and have a blend of probably commercial-type business activity and some industrial and warehousing or semi-industrial warehousing is positive for the area. It will reposition and consolidate that area.

“We’ve already seen the successful transformation of the Federal Mills in Mackey St, so these things can work in that location,” he said.

“It will generate a significant number of people going to that site on a daily basis because there will be a lot of different businesses in that precinct. It will help Melbourne Rd.”

Owners of a North Geelong business have started to renovate a warehouse a 308-310 Melbourne Rd after purchasing the property recently.

The 2295sq m property sold after a short campaign in deal the Advertiser understands was worth around $1.5 million.

Antiques emporium How Bazaar recently relocated to Colac from the site.

Mr Darcy said the main road position was a motivating factor for the buyers.

Meanwhile, motorcycle parts retailer AMX Superstores has signed a five-year lease on a warehouse at 385 Melbourne Rd after furniture retailer Oz Design relocated to the Corio homemaker centre.

Leedwell Property agent Tom Perkins said AMX was attracted to the strip for its array of tradie and adventure-based retailers, including Bunnings, Sydney Tools and Ironman 4×4. AMX will take up a position on the corner of Cowie St.

“We have seen a maturing in the Geelong marketplace with traditional homemaker retailers such as Oz Design moving to the homemaker centres where there is a critical mass of like-minded retailers, much like we are seeing tradie-based retailers creating a ­cluster on the highway,” Mr Perkins said.

The North Geelong Ford site will be a mixed-use site for commercial, industrial and ­ancillary uses, understood to be consistent with its current zoning.

The new owners told the Advertiser the first stage is expected to accommodate up to 1500 workers in the next three years.

The Princes Highway site is currently home to advanced engineering firm Marand and Danish wind energy giant Vestas, which has based a turbine assembly operation there.

Local interest drives commercial investment at Geelong auctions

Local interest has dominated at a trio of commercial property auctions around Geelong.

The three properties in Geelong, South Geelong and Grovedale were auctioned last week and found buyers at or shortly after the auctions.

A Geelong investor has paid $1.09 million for a warehouse and showroom at 11 Crown Street, South Geelong.

Selling agent Tim Darcy, of Darcy Jarman, said the 1505sq m Industrial 1 warehouse complex was sold with vacant possession.

“The party was a local investor who is looking to tart it up and procure a tenant for it in the long term”, Mr Darcy said.

The property has 16 on-site car parks.

An end user made the highest $510,000 bid for the last remaining vacant corner block in a Grovedale estate.

The 802sq m site at 133 Marshalltown Rd sold at auction, with two bidders making most of the running.

Mr Darcy said the buyer would look to develop the property, building an office, showroom and warehouse facility on the block that’s on the intersection with Wilray St.

The property has a commercial zoning.

Meanwhile central Geelong property developer Bill Votsaris added a historic Moorabool St building to his city portfolio.

Mr Votsaris negotiated after auction to secure the two-storey bluestone retail and commercial building for $900,000.

He competed againstthe owner of a neighbouring building for the vacant property at 186 Moorabool St, Geelong.

McGrath, Geelong agent David Cortous said a Sydney couple initially in the running to convert the former ironmongery to a residence watched the acution after pulling out of the race.

He said their plans to relocate to Geelong had changed.