Ring road precinct: 87-91 Prosperity Drive, Corio, has sold for around $1 million.
JOB creating developments in greenfields industrial land hugging the Geelong Ring Road continue as another land sale was chalked up in the city’s northernmost suburbs.
A Geelong buyer paid around $1 million for the 8026sq m industrial land at 87-91 Prosperity Drive, Corio, eyeing plans to develop the site.
Darcy Jarman selling agent Tim Darcy said logistics hubs, factories, warehouses and other facilities had taken shape in the past few years in the estate along O’Briens Rd between Bacchus Marsh and Broderick roads.
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Mr Darcy said the development was largely built on Geelong’s growth, while the estate’s position at the northernmost suburb giving occupants ideal access to Melbourne’s western growth areas.
The month-long private sale campaign generated interested from developer-investors and owner occupiers, he said.
“Geographically it’s the most northern point in an industrial sense to Melbourne’s south and sit’s right on the ring road,” Mr Darcy said.
Ring road precinct: 87-91 Prosperity Drive, Corio, has sold for around $1 million.
While logistic benefits play a part, Mr Darcy said the large sites had allowed businesses, local and from afar, to build to their own specifications.
“You can’t find an 8000sq m site in infill parts of Geelong,” he said.
Mr Darcy said a lot of the recent development was in the construction industry, including civil contractors and builders.
“That’s what is driving the area in terms of our growth,” Mr Darcy said.
The Prosperity Drive site offers a 142m frontage to the street, which runs off O’Briens Rd and neighbours Ritchie Bros auctioneers and phosphate fertiliser firm Wengfu Australia.
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