Prominent neighbours underscore value of prime Grovedale industrial site

156-162 Marshalltown Road, Grovedale, is expected to fetch $6m.

The upcoming sale of a key asset in one of Geelong’s most prominent industrial precincts opens the door to fresh development in the area.

Local and Melbourne buyers are among those mulling options for the 5878sq m parcel of land with a warehouse at 156-162 Marshalltown Rd, Grovedale.

The Industrial 1 zoned property is expected to sell for circa $6m.

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Colliers selling agents Ned Tansey and Jonathon Lumsden said the location and versatility of the site was the key for buyers.

It is surrounded by prominent national brands including Total Tools, National Tiles, IGA, Bounce and Barbeques Galore.

Mr Tansey said the 1560sq m warehouse would allow the new owner to obtain a rental income while formulating any plans for the site.

“It’s a pretty versatile property that lends itself to development, obviously subject to council approval, but then there’s also owner occupiers interested in it as well and investors,” he said.

“It is probably one of the last two left in that Grovedale industrial precinct of that size.

The site has a 61m frontage to Marshalltown Rd.

The existing warehouse provides multiple options for investors or owner-occupiers.

“If you have a look directly behind you can see the development on Lewalan St. You could probably do something similar to that with some showrooms on the front. There is a fair bit of exposure on that Marshalltown Rd.”

The property has a frontage of 61m and high clearance throughout the warehouse.

It is offered with vacant possession.

“The industrial demand the last couple of years has just been great so you could be pretty confident as a developer as it’s a prized location,” Mr Tansey said.

There is a high clearance throughout.

Fellow listing agent Mr Lumsden said Marshalltown Rd provided easy access to arterials road that linked the Surf Coast, Geelong and Melbourne.

“This is a thriving location with the property located 9.5km from the Geelong CBD, 13.8km from Torquay and 88km from the Melbourne CBD,” he said.

The property is being sold via an expressions of interest campaign, which closes on October 5 at 4pm.