This article is from the Australian Property Journal archive
FURNITURE store chain Schots Emporium has lobbed to the market its showroom and distribution centre on an expansive landholding facing Geelong Port, with hopes of more than $15 million.
Ned Tansey, Jonathon Lumsden and Yvonne Zhou from Colliers are marketing the 2.12-hectare site at 22-36 Corio Quay Road, which has a showroom and warehouse spanning 1.05 hectares.
It will be sold with a 12-month lease back to Schots Emporium, which also has locations in Melbourne’s Moorabbin and Clifton Hill.
According to the agents, the North Geelong facility offers an ideal fit for investors, developers and owner occupiers thanks to its multipurpose and future value-add potential. Investors can reposition the asset and capitalise on tenant demand, while owner occupiers can utilise the added advantage of the retail/showroom frontage.
“We notice a strong buyer demand from local, national and international investors and developers, with a shortage of Industrial land to service the demand,” Tansey said of the Geelong market.
“This is a unique opportunity to acquire a substantial industrial land holding with dual street frontage and within proximity to the Geelong Port.”
The property is surrounded by major businesses such as GrainCorp, Midway Limited, Viva Energy, Boral, and the Spirit of Tasmania terminal, and adjacent to Federal Mills which comprises approximately 37 tenancies including Bendigo Bank, Tango Energy, Body Fit, and Ports Victoria.
Expressions of interest close Wednesday, 6th March.
