Investors prepare to strike on Belmont land chance

The City of Greater Geelong council’s public land sale is surging ahead with investors ready to strike on a vast block of prime-located suburban road.

17 Reynolds Street, Belmont is the present site of a 10-pin bowling business and maternal health services that is due for sale as part of a council strategy to offload surplus properties to boost its finances.

The sale will include conditions from the council that the maternal health centre retains its lease for at least 20 years so the service can remain.

The property is a 1.56-hectare site just off Colac Road, with building area of 2,975sqm, which also includes close to 200 car parks.

The latest sale comes after the city’s property offload kicked off with a $22.7 million deal for the Civic Car Park at Gheringhap Street in December last year.

A Corio KFC site is presently undergoing a rezoning process ahead of sale, while the Busport Car Park at Brougham Street is also set to go under the hammer in coming months.

The Reynolds Road property is set to sell by a private auction on March 9, with Colliers Geelong the selling agency.