BP sells Geelong site to developer
BP Australia has sold a long vacant north Geelong block to a joint venture planning a mixed-use commercial project.
The 1.67 hectare Industrial 1 zoned parcel, 232-244 Princes Highway, Corio, beside the Gateway Hotel, is speculated to be trading for about $8 million.
Frame Development and Vernacular Property are the buyers.
With 120 metres of road frontage, passed by more than 43,000 vehicles a day, a quick service retail, light industrial and showroom/warehouse investment is planned.
BP remediated the site (story continues below).
Colliers was the marketing agency.
Elsewhere recently in the suburb, nine kilometres from Geelong, a consortium comprising local outfit Sivasli and former Crown Casino chief, James Packer, announced plans to replace the former Rosewall Primary and Corio North Primary schools with residential projects.
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