Mill Market site up for grabs

COLLIERS’ Flurry of landmark regional listings and sales continue to grow as astute investors shift their gaze from metropolitan investments to more lucrative provincial holdings.

There has been strong demand for investments with long-term value-added potential within the Geelong Region and the Colliers team of Ned Tansey and Chris Nanni are bringing to market a dual-tenanted investment opportunity on the outskirts of Geelong, that would be known to many.

 

The asset, which comprises a 2,080sqm showroom, located at 114-116 Bellarine Highway, Newcomb, is strategically surrounded by major brands, including KFC, McDonalds, 7-Eleven, Woolworths, and ALDI.

Located only 4.7km from the Geelong CBD, the property anchored by the Amazing Mill Markets is expected to attract interest in excess of $4.5 million.

Sitting on about 7,461sqm of land, Colliers state the property presents a secure dual-tenanted investment opportunity, returning a combined $263,618 per annum net to 2028 with further options and annual rental increases.

An interesting highlight towards the rear of this holding is approximately 1,400 sqm of vacant land which forms part of the lease held by Mill Markets, providing additional future development subject to council approval.

 

Colliers sales and leasing executive Ned Tansey said this rare dual-income investment offered an exceptional opportunity to acquire a secure commercial investment located on the Bellarine Highway, a key arterial route on the fringe of the Geelong CBD.

“The asset presents an exceptional opportunity for investors seeking a secure, fully leased asset with future long-term development and rental upside, being able to benefit from the favourable commercial 2 zoning and visibility to over 29,000 cars passing daily.”

The property is anchored by the highly popular Amazing Mill Markets and complemented by Geelong’s own Bean Squeeze drive-through coffee, assuring investors of well-established, successful, and dependable tenants.

 

Bean Squeeze is a drive-thru coffee shop with 16 stores across the Geelong Region and has occupied this site since 2008.

The Amazing Mill Markets has multiple locations offering an array of vintage furniture, clothing, and antiques and has leased this property since 2012.

Colliers sales and leasing executive Chris Nanni said there had been strong demand for tenanted investment opportunities in quality locations around the Geelong region over the past 12 months.

“There has been extra demand for investments with long-term value-added potential.

“The property is located within a great catchment area with a mix of residential and commercial property, schools, major shopping centres, and industrial precincts that further add to the value of this particular site.”

114-116 Bellarine Highway, Newcomb, is being offered for sale by expressions of interest, closing March 19 at 2pm.

Colliers sales and leasing executive Chris Nanni said there had been strong demand for tenanted investment opportunities in quality locations around the Geelong region over the past 12 months.

Located only 4.7km from the Geelong CBD, the property anchored by the Amazing Mill Markets is expected to attract interest in excess of $4.5 million.