Buyers reveal plans after huge Fyansford land grab
A group of Geelong investors has plans to develop a business park after securing a Fyansford property with a 96m frontage to Hamilton Highway.
The Macula families and Bieser family purchased the 9711sq m Industrial 1 zoned property at 235-255 & 265 Hamilton Highway, Fyansford, for $6.5m at auction.
The group representing the Macula families and Bieser family, had already developed the neighbouring property, building seven modern industrial warehouses at 275 Hamilton Highway.
“It’s a marvellous area and they don’t make land any more, particularly in this area,” the winning bidder Basil Macula said.
“We built the ones next door and they’re building at the back, there will be housing a bit further down (the highway) and there will be a shopping centre down where the pub is.
“It’s a great area. Before we started building here we probably drove past thousands of times and didn’t look twice.”
Mr Macula said the seven warehouses in their first Fyansford development had leased before they were completed.
“The leased like hot cakes. There are seven sheds and they had all sold before they were completed,” he said.
The group revealed their plans for a business park would be something special.
Surrounding development, including the Gen Fyansford housing estate, has fanned demand for development sites in the suburb.
The property sits just off the Geelong Ring Road, which provides a connection to Melbourne, Ballarat and Adelaide.
Cotton On founder Nigel Austin secured the sites for the nearby Fyansford Town Centre earlier this year in a deal worth $7.5m.
The State Government offloaded a 1.1ha Commercial zoned opposite at 160-170 Hamilton Highway for $5.115m in a tender process in 2021.
Colliers agent Ben Young said the highway access was the main driver of interest.
“There are not many properties with a highway frontage any more,” he said.
“And Fyansford being a developing suburb now with the residential development and the growth to come on the other side of the ring road, that’s going to go all the way up to Lovely Banks and join Lara.
“It’s in a key location, so you don’t get this type of industrial land any more.”
Demand for industrial premises remains hot, with a recent trend of strong sales and leasing results.
The sector proved largely immune to the Covid pandemic, with industrial tenants able to trade during lockdowns.
“It’s almost a Covid-proof industry.”
Auctioneer Andrew Lewis kicked off the auction with a $5m vendor bid, with bidders raising the stakes with $50,000 increments.
He confirmed the property was selling as the price passed $5.8m.