Geelong Football Club Leases ‘Melbourne Base’ at Point Cook

To be built on a 1.5 hectare site at the corner of Boardwalk Boulevard and Sneydes Road, the 2200 square metre Oasis Point Cook abuts major mixed use developments under construction by Central Equity, Walker Corporation, Villawood and AMP.

“The Geelong Football Club identified this as an excellent social club location, given almost half its games are in Melbourne,” said DTZ associate director – sales and investments Marcus Quinn, who is now marketing the property for sale, with Ken Smirk and Russell Hannan.

“They have told us supporters will naturally use Point Cook as a half way point to relax, celebrate or commiserate on the way to and from Geelong’s Melbourne games.”

The GFC has signed a 20-year lease, with 30 years in renewal options, commencing from 2009, when Oasis will open.

“The facility will also include a bistro with alfresco area, a function room, children’s play area, sports bar, cafe and separate lounge and bar,” said Mr Quinn. “These facilities will be strategically located to cater for the population growth plan for Point Cook, which is expected to provide the majority of (municipality) Wyndham’s population growth to 2016.”

Mr Quinn said he is expecting the facility to sell for around $14 million, reflecting a yield of around 7.1 per cent.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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