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<\/p>\nAlthough the shine has come off the residential market in our region, well-placed commercial property in Geelong are achieving significant results.<\/p>\n
Agents are seeing local owner-occupiers continue to drive market activity, seeking properties that offer both functionality and strategic positioning.<\/p>\n
Colliers Geelong have achieved another notable transaction in the highly-desirable Newtown market with a premium industrial warehouse at 19\/5 Bridge Street changing hands for $1,150,000.<\/p>\n
The transaction was managed by Colliers agents Ned Tansey, Jonathon Lumsden, and Jackson Carrick.<\/p>\n
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The 290sqm property has achieved an impressive $5,750 per sqm across the ground floor area with the asset acquired by a local owner-occupier with vacant possession, underscoring the ongoing demand for industrial properties in the Geelong region.<\/p>\n
This result of $5,750 per sqm is a record for Colliers in Newtown’s tightly held commercial property market.<\/p>\n
Colliers previous sales in the Newtown industrial market were back in 2019 reflecting how strongly held this market is for investors and owner occupiers.<\/p>\n
In April 2019, Colliers sold 13\/11 Newcastle Street, Newtown at $327,000, translating to $2,919\/sqm; along with 14\/11 Newcastle Street, Newtown at $320,000, which came in at $2,857\/sqm.<\/p>\n
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Colliers executive for sales and leasing Ned Tansey said demand for industrial assets in high-quality locations across Geelong remained strong.<\/p>\n
“Local owner-occupiers continue to drive market activity, seeking properties that offer both functionality and strategic positioning.<\/p>\n
“Warehouses like this one that offer a flexible layout, high clearance space, private offices, and quality amenities that appeal to various uses.<\/p>\n
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“Newtown’s prime location provides easy access to the Barwon River and the vibrant Pakington Street retail precinct, adds even more to its appeal.<\/p>\n
“So far in 2024 we have seen well located industrial assets in the Geelong region continue to achieve outstanding results.”<\/p>\n
The interest in the Geelong market has also been boosted by large-scale national investors looking to get a foothold in the growing market.<\/p>\n
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Colliers recently sold the high-profile Highton site at the corner of South Valley Road and Colac Road, that surrounds McDonalds and APCO, to retirement living provider Lavande for in excess of $20 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
Although the shine has come off the residential market in our region, well-placed commercial property in Geelong are achieving significant results. Agents are seeing local owner-occupiers continue to drive market activity, seeking properties that offer both functionality and strategic positioning. Colliers Geelong have achieved another notable transaction in the highly-desirable Newtown market with a premium […]<\/p>\n