Geelong: Developers on notice for key sites with residential, commercial opportunities
THE development potential of sites in three suburbs will be put to the test in separate campaigns.
Properties in Geelong West, South Geelong and St Albans Park have been offered to market as sites for potential redevelopment.
The future plan to reshape land use at the northern end of Pakington St will be a key driver for the former home to a brick yard, McGrath, Geelong agent David McGuinness said.
The 950sq m corner site at 68-70 Pakington Street, Geelong West, has a Commercial 2 zoning.
Mr McGuinness said a proposed urban design framework is likely to shake up land use north of the core shopping precinct to promote a greater mix of uses, focusing on residential and office.
The property is listed for private sale, with price hopes above $3 million.
A change in zoning brings a multi-level retail, cafe and residential use, subject to council approval, into scope, he said.
In its existing shape, corner site has a versatile office complex and off-street parking for up to six cars.
A mix of Residential and Commercial 1 zones provides several opportunities for 1539sq m St Albans Park parcel for investment and redevelopment.
There are two parcels at 42-44 Westmoreland Street — a separate four-bedroom house on a 499sq m block and a Commercial 1 parcel that contained the former St Albans Park General Store and post office.
The shop has an attached three-bedroom residence, two vehicle crossovers and off-street customer parking, 3-phase power and 5.8kw grid-tied solar system.
Ms Andrews said the former retail premises could be resurrected for a hairdresser, medical or consulting suites or other uses, while investors could draw an income from the two residences.
However, she said the majority of interest seems to be from developers.
Ms Andrews has set price hopes at $1.19 million to $1.25 million ahead of an auction on June 12 at 11am.
A South Geelong property presently occupied by a car dealership is a target for developers.
Colliers International, Geelong agent Ben Young said the property at 500-506 Moorabool Street would suit occupiers or investors looking to renovate the existing property, which is being offered with vacant possession.
Or developers looking to increased the use of the Commercial 2 zoned property as a multistorey retail and office complex.
The 690sq m property has three street frontages and is close to the Barwon River and GMHBA Stadium.
Tenders close June 4.