Future use for former Geelong cement works site revealed
Agents selling the final piece of the old Geelong Cement works have revealed the potential best use for the Fyansford infill development site.
Gross Waddell ICR agents Danny Clark, Alex Ham and Andrew Greenway have listed the 2.88ha infill development site at 170-174 and 220 McCurdy Rd in an expressions of interest campaign closing October 6.
Price hopes are above $10 million, the agents said.
The hilltop position is next to the Gen Fyanford housing estate, which has set new benchmarks with some houses selling for more than $1.3 million this year.
Mr Clark said more than 50 inquiries in the early days of the campaign included builder-developers from Geelong and Melbourne.
“With the zoning there it’s going to be a variety of different groups look at it whether it’s house and land, whether it’s retirement, or whether it’s townhouses,” Mr Clark said.
“Our view is that townhouses is going to be best suited there because there is a fair bit of housing already around the precinct.
“It allows a different sort of revenue and scope to provide a bit more of an affordable product, rather than the super-expensive houses that are popping up all around the Gen Fyansford.”
Mr Clark said the level of interest was no surprise.
“Geelong is flavour of the month. It’s one of the hottest residential markets in Australia,” he said.
“I think even the pandemic has sped up the shift of people to down there. Now working from home is going to be around for a lot longer than what it was two years ago, so people have the flexibility of being down the coast, or wherever they live for three, maybe four days a week and be in the office one or two days a week.”
Mr Clark said developers also had to look further afield larger scale infill development sites.
“To find in-fill opportunities in Melbourne is so hard. We get smaller sites of 10 to 15 or 20 townhouses, but rarely so you get sites where you can build upwards of 100 townhouses at the moment, so developers have to look further afield.
“And your price point in that area is a super-strong price point for townhouses.”
Mr Clark said some groups would look at a house and land development to match neighbouring project, given the land prices achieved on the neighbouring hilltop of Gen Fyansford.
“We’ve already had a number of inquiries from retirement groups as well, because they obviously need a certain size to accommodate their business.
Mr Ham said the site has great access to the Geelong Ring Road.
“Which gives you good access to the Surf Coast and into Melbourne as well, and yet you’re only 4km into the city.”
Mr Clark said lifestyle elements in the area was already drawing buyers to move from Melbourne, with an abundance of schools and the river access.
“There’s an abundance of schools and the river is there.”