20 Apr 2026
A substantial Barwon Riverfronted landholding offers a generational opportunity as Newtown’s industrial precinct transforms to a residential and mixed-use enclave.
The 4.2ha landholding comprises a portfolio of four industrial and commercial assets along Riversdale Rd and Gregory Ave.
Darcy Jarman agents Tim Darcy and Andrew Prowse, with Charter Keck Cramer’s Lachlan Devine and Tom Byrnes appointed as transaction advisers, are bringing the property to market in an expressions-of-interest campaign closing on May 20.
Mr Darcy said the property, which is dubbed the New-Town Precinct, is being offered in one line, or could be purchased in three separate parcels.
The offering represents one of the largest privately held inner Geelong land parcels and is expected to attract strong national interest from developers, land bankers and private capital groups.
A Geelong family has owned the site progressively since the early 1970s, including the refurbished 1880s Austral Paper Mill complex, which records show last sold in 2015.
As a single parcel, the precinct would be the most significant transaction on the north bank of the Barwon River since Geelong developer Cam Hamilton paid $33m for “The Mill” site nearby in 2025.
While the property would attract a price tag in the tens of millions, it’s unlikely to reach the value of the former Returned Sailors and Soldiers Woollen Mill complex, which was offered with an approved permit to build close to 350 apartments and townhouses.
Mr Hamilton has revealed a new vision that would pivot the existing mill building to a project similar to the Federal Mills precinct, but with increased focus on retail and hospitality.
Future medium-rise apartment projects would create between 100 and 150 homes.
A Fyans St and West Fyans St Precinct Structure Plan is guiding the future redevelopment of Newtown’s industrial precinct that dates back to the 19th century wool processing industry. Geelong’s last wool scourer, E.P. Robinson, closed in 2025 after merging with a South Australian business.
The transition has already led to the creation of several modern business parks and approval of major residential developments along the river, leading to the area being compared to the decreasingly industrial suburb of Cremorne in Melbourne, which has become
a technology hub.
“This area has some serious scope for positioning for residential and commercial use,” Mr Darcy said. “Already some of the land in this precinct has a mixed-use zone, but if it all becomes mixed-use land then it’s going to create a significant opportunity to be completely repositioned.
“Newtown has always been a strong residential precinct, so it could very much become like a Cremorne, which abuts Richmond in Melbourne, sitting on the Yarra River.”
The New-Town Precinct generates an annual rental income of more than $927,000, while low site coverage provides the flexibility to reposition, consolidate or redevelop.
There are nine tenants including the Geelong Surfcoast Laundry, RapidClean and civil contractor Tradetech Services.
Mr Prowse said opportunities of this scale, particularly with 250m of direct river frontage, are exceptionally rare.
“The combination of strong holding income and long-term development potential is what makes this offering so compelling,” Mr Prowse said. “We expect strong interest.”