Corio site on market
Wedge of Costa history
A CORIO site described as the last remaining significant infill parcel of commercial land within urban Geelong is being offered for sale.
The 1.73ha site at 71-29 School Rd and 11 Railway Ave offers a chance to develop within a commercial wedge at the city’s northern entrance.
Costa family members, including brothers Frank, Robert and Anthony, were listed on the title for the property, which is behind Corio’s Harvey Norman store which was originally built as T Costa and Co’s fruit and vegetable distribution centre.
Darcy Jarman selling agent Tim Darcy said buyers could unlock the land’s potential value in a multitude of options.
“The C2 zone does provide an enormous amount of flexibility,” he said. “By virtue of what it’s got, you could do offices, you could do manufacturing or associated activities, you can do bulky goods sales, other retail sales and associated array of business.
“Probably the most likely outcome outside a business park is a showroom/warehouse scenario with maybe a complementary amount of restricted retailing.”
Mr Darcy said it was a rare opportunity given it sat a couple of hundred metres from the Princes Highway.
“There are not many, if any in-fill Commercial 2 parcels of land that remain within inner suburban Geelong.”
He said the site was expected to exceed the land rate previously seen in the local commercial and industrial space.
“The significant industrial sales out that way are showing something north of $300 per square metre, we are certainly going to be something north of that I suspect”
Expressions of interest close March 30.