$4m price hopes for Geelong brewery site
The former home to the Southern Bay Brewery at Moolap is expected to attract offers around $4m after being offering as a strategic development opportunity.
The brewer, which was a business casualty during the Covid-19 pandemic, was placed in liquidation in 2021 after three decades in operation.
Michael Basedow from Pitcher Partners was appointed as liquidator of the company behind the brewery, Southern Bay Brewing Co Pty Ltd.
The 2.49ha site which has a 95m frontage to Point Henry Rd is expected to attract interest around $4m from an array of developers and potential occupiers. Existing plant and equipment is also available for purchase.
Colliers, Geelong agents Jonathon Lumsden and Ned Tansey have been appointed to sell the property at 72-80 Point Henry Rd, Moolap by expressions of interest, closing June 2.
The Industrial 1 zoned site incorporates building areas of 2371sq m, which occupy just 10 per cent of the available landholding.
Neighbouring businesses include Rendine Constructions, Boral and Local Mix.
“Surrounded by Moolap’s largest occupiers, the property offers future developers or occupiers the ultimate connectivity and convenience with exceptional transport linkages, strong exposure to Point Henry Rd and the convenience of Geelong central business district nearby,” Mr Lumsden said.
“This is a strategic, rare development opportunity in the eastern growth corridor which continues to evolve.
“With a 95m frontage and a depth in excess of 300m, the property would make an ideal warehouse unit development, subject to council approval, or could provide an owner occupier with ample space to develop their own warehouse facility.
“The existing buildings could also provide some short-term holding income while a new owner sought approval for a new development.”
The property sits within an area where the State Government intends to guide future development in the wake of the closure and demolition of the nearby Alcoa aluminium smelter and rolling mill at Point Henry.
Although the land is designed to remain for commercial and industrial use, the plan, released in 2019, identified future opportunities for residential and tourism development, subject to land remediation and relocation of a nearby Dow Chemicals plant.
“There is great demand for industrial assets in Geelong and the surrounding areas, with limited supply to service the demand and continued growth in the region meaning this high profile property will attract a strong contest from a variety of buyers,” Mr Lumsden said.
While there are no significant industrial, warehouse development opportunities on the market at the moment, recent sales in Point Henry Rd, Portarlington Rd and Buckley Grove have been between $2.2m and $3.05m.