Spotlight shines on major Geelong development site
A Geelong buyer has snapped up nearly 4000sqm commercial complex in Belmont’s industrial estate.
The 3806sqm property at 6-8 Curtis St, Belmont, sold for $1.7 million to the Geelong buyer, who outbid a competing party from Melbourne.
Darcy Jarman, Geelong West agent Tim Darcy says the property retained a 12-month lease to a tenant, paying $40,000 a year.
Commercial Insights: Subscribe to receive the latest news and updates
Darcy says the buyers don’t have immediate plans for the Industrial 1-zoned site, but could look at a redevelopment in the medium term.
“By virtue of its geographic position at the very northern point of Belmont, it’s close to the main arterials of Settlement and Barwon Heads roads.
“It’s a pivotal and central spot and very tightly held.”
This article from the Geelong Advertiser was originally published as “Pivotal Belmont commercial site sells for $1.7 million at auction”.