16 Jul 2014
Buyer corners city site for $3 million Alison Aprhys writes.
CORNER property leased to Barwon Water at 155 Mercer St, Geelong, has sold for about $3 million, agent Tim Darcy, of Darcy Jarman, said.
Mr Darcy said the property, which houses the Barwon Water Alliance headquarters, comprises a 1875sq m two level building, was sold to an investor from the region. “The property was
marketed for $3.45 million and it sold in the range of $3 million,” he said. “The buyer has other property holdings and it will be a passive investment with the lease in place.”
The five-year lease, which started in March 2012, returns an annual income of $235,289. He said the building on the north-western fringe of the central business district generated significant interest.
From the Geelong Advertiser, 16 July, 2014.