Breakwater property allows buyers to think big
9-13 Reeves Court, Breakwater, has been listed for sale.
A line of sheds on a combined 8600sq m property in a southern Geelong industrial estate could become the latest target for industrial developers.
The warehouses at 9-13 Reeves Court, Breakwater, has been listed for expressions of interest as vacant possessions.
The established industrial estate near the Barwon River in Geelong’s south has been the target of much development in recent years, with projects seeing many concrete tilt-panel warehouses appearing on the landscape.
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The combined landholding has a street frontage of 130m and an Industrial 1 zoning that’s primed for new owners to seek further opportunities.
The scale of the property could see the 8670sq m landholding trade for as much as $9m, based on recent land sales in the area.
9-13 Reeves Court, Breakwater, has been listed for sale.
Maxwell Collins, Geelong agent Paul Whyte said the large parcel opened the door to new owners creating more large scale warehouse development.
“Someone could buy the whole lot and do one massive warehouse on it and have some yard space as well, or someone might buy the 3000sq m one and just do one big warehouse or a couple that are 1000sq m.
“There’s not many (warehouses) on the market that are bigger,” he said.
“This one probably lends itself (to larger development) because they have bigger parcels or might lend itself to some big warehouses.
“There’s not much that’s smack, bang in the middle of an industrial estate of this size.”
Mr Whyte said the established industrial estate would provide some comfort to new owners.
“Breakwater is well known. There’s a lot of other businesses there that would provide some sort of attractiveness,” he said.
9-13 Reeves Court, Breakwater, has been listed for sale.
Developments at Dyson Court and Kadak Place have satisfied a demand for warehouses that host businesses, small factories and even man caves, but there was still a space for larger-style warehouses in the suburb.
“There’s people screaming out for something a bit larger,” Mr Whyte said.
“The value is probably in the land space more than the warehouse but that’s not discard someone buying and using the warehouse as they are refurbishing them.
“It’s just got a fair bit of flexibility in that way that someone might buy one or two or all three or use existing buildings or knock them down.”
