South Pacific Tyres Factory, Somerton, to be Sold

The tyre maker can expect to make about $40million for the northern suburbs super-site, which includes several industrial buildings spread over 41hectares.

Given its location – and its almost 500-metre frontage to the Hume Highway – the site is likely to find its way into the hands of an industrial developer who is keen to exploit its position on Melbourne’s northern-ring freeway network.

Colliers International selling agent David Butera said Tyre Marketers, a Goodyear-affiliated business trading as Beaurepaires, would lease a 47,633-square-metre distribution warehouse at the back of the block for two years, while it did remediation work and demolition of all other buildings.

"The property provides the potential for a subdivision into allotments or the construction of new purpose-built facilities on either a lease or land and building package," Mr Butera said.

Almost 590 jobs will be lost when the factory, which makes Dunlop and Goodyear tyres, closes in December.

Adelaide-based Bridgestone will become the only tyre maker in Australia.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of