ICD Property and Thailand’s Supalai Public Company are selling the town centre component of their master-planned Gen Fyansford housing estate, three kilometres west of Geelong.
The 6.23 hectare offering comprises two sites located either side of the corner of Hyland Street and Deviation Road – at the estate entrance.
The City of Greater Geelong only granted a permit for the land to be replaced last November.
The vendors are on-selling to focus solely on delivering a premium 1200-lot residential estate behind the town centre blocks.
Mr Zhou said a suitable purchaser would share the vendors vision for the site to become a major community hub for the wider Fyansford township and surrounding suburbs.
The town centre sites
The largest site, 47 Hyland Street, covers 4.8 hectares.
Predominantly zoned Commercial 1 (other portions of it are gazetted General Residential and for a car park), it is permitted to make way for a shopping centre with a supermarket, commercial buildings and community facilities.
There is also an option to include medium and high density residential components at this address.
A smaller block, 51-59 Hyland Street, spreads 1.44 hectares and is zoned Mixed Use – allowing the incoming purchaser the option of several development outcomes which can also include apartments.
The sites are expected to sell for a total of more than $7 million.
Gen Fyansford is in the immediate vicinity of a high -profile silo art painting and tourist attraction – which ICD Property helped fund the creation of.
“Since the beginning we envisioned the town centre within Gen Fyansford becoming something that brings Gen Fyansford residents together, as well as those living in neighbouring suburbs such as Newtown, Hamlyn Heights and Herne Hill” ICD Property managing director, Matt Khoo, said.
“Although Gen Fyansford is within close proximity to Geelong’s city centre, providing residents with essential doorstep amenities like a supermarket and dining options will help improve the liveability of everyone in the neighbourhood.
“We have high hopes for the town centre to serve as a community hub and introduce new commercial success to the area.”
In December, Melbourne-based ICD Property won a partnership agreement with City of Adelaide for a $400 million rebuild and extension of the Adelaide CBD’s Central Market Arcade.
A month earlier ICD, with Singapore developer First Sponsor, got the green light for a $200 million redevelopment of the distinctive City Tattersalls Club site in the Sydney CBD.