BP offload prominent Geelong gateway site

Colliers have listed another significant Geelong gateway site perfectly positioned on the bay side of the Princess Highway capturing significant passing trade.

Located at 232-244 Princes Highway Corio, the 1.67-hectare block of land has the potential to be turned into a showroom/industrial warehouse development.

This is a significant industrial zoned site in one of Australia’s fastest growing cities is being brought to market, on behalf of multinational integrated energy company BP.

The commanding corner site is one of the best development offerings in Geelong, with a prominent footprint and versatile Industrial 1 zoning.

The site’s location directly adjacent to The Gateway entertainment venue and close to major retail brands makes it an attractive destination, with the potential for a showroom/industrial warehouse development subject to council approval.

The Colliers team of Jordan McConnell and Jonathon Lumsden have the exclusive listing, with interest expected above $8 million.

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

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

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

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 about 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 expressions of interest campaign closing on September 12 at 3pm.