Geelong financial services firm to move to riverside HQ at Newtown
Construction has started on Barwon Business Park on Riversdale Rd, Newtown.
The pending closure of Geelong’s last wool scourer has a silver lining for a suburb as more businesses eye a move to developments on the Barwon River.
Owners of EP Robinson Pty Ltd and Michell Wool announced their merger last week to establish Australian Wool Processors in Adelaide.
Thirty jobs will be lost in Geelong when EP Robinson’s Bridge St, Newtown mill closes.
Newtown became an early epicentre of Victoria’s wool processing industry, which required access to water from the Barwon River for the scouring and carbonising process.
RELATED: $20m upgrade for TAC HQ targets working parents, access, inclusion
Barwon River cluster grows as Newtown milk site listed for sale
New vision for Newtown mill after $32m sale to prominent developer
But IDS Developments director Phil Petch said the closure of Geelong’s last wool scourer would ultimately be a positive outcome for Newtown, where city planners have been navigating a transition from heavy industrial to more mixed uses in the precinct.
IDS is building the $38m Barwon Business Park, at nearby Riversdale Rd.
“Closure of the mill, when combined with council’s ambition to rezone the precinct, are the last pieces of the puzzle in the steady gentrification of Newtown’s riverside precinct,” Mr Petch said.
Gartland director Michael De Stefano, Mulcahy & Co Geelong director Warren Freeman and IDS Developments director Phil Petch are pictured on the top floor of Mulcahy & Co Geelong complex at Barwon Business Park.
“It’s hard not to see how property values won’t accelerate over the short to medium term.”
City of Greater Geelong has listed a review of the West Fyans/Fyans Structure Plan, which guides development in the area, as an upcoming project.
Land in the area is a mix of Commercial 2 zoning around the mill, with Industrial 1 and Mixed U in other areas closer to Pakington St and Latrobe Tce.
“Our success at selling down 75 per cent of our individual offices at the Barwon Business Park highlights the strong demand for property in this high growth precinct,” Mr Petch said.
Financial services firm Mulcahy & Co Geelong is the latest business revealed in the precinct after acquiring three off-the-plan offices.
Mulcahy & Co has collaborated with the project’s Mark Gratwick Architects to merge the offices into a single circa-1000sq m complex.
The four-level headquarters will anchor the firm in a riverfront position, with 360-degree views across the Barwon River and Geelong’s city skyline from the elevated site.
Five individual tenancies are available at Barwon Business Park.
Mulcahy & Co Geelong director of lending Warren Freeman said the decision to purchase in the precinct instead of lease was about more than bricks and mortar.
“It’s about crafting an environment that mirrors our ambition, our values, and our commitment to our people,” Mr Freeman said.
“We wanted a space that inspires. Not only to impress clients, but to engage and retain the talented professionals who power our success.
“This building is a jewel in the crown, not just for us, but for Geelong’s evolving commercial market.
“Our clients expect premium service, and now, they’ll experience it in a premium space,” Mr Freeman said.
The new headquarters is set to become a desirable corporate address, with features such as end-of-trip facilities capitalising on the proximity to riverside walking tracks and local sport venues, such as pickleball courts.
Additional free parking provisions ensure client convenience, while internal layouts will enhance operational efficiency, with purpose-built client meeting zones and dynamic team spaces.
