Knight Frank are pleased to announce the sale of 16 Gheringhap Street Geelong, VIC
Marketed by Knight Frank Directors James Thorpe, Stephen Kelly & Paul Lillis, the site was sold to a local developer for a price that has been undisclosed. Â
Location
The property presents as Geelong’s most well located development site, commanding a prominent and highly strategic corner position at the intersection of Gheringhap Street and Bayley Street. Situated in the heart of Geelong’s commercial precinct, the site is on the doorstep of both the foreshore and transport hubs and is further supported by a wealth of surrounding retail and lifestyle amenity
Sale Summary
The sale is the latest on a growing list of exceptional development site results achieved in the heart of the Geelong CBD over recent times. The sale was underpinned by an unrepeatable 12-level permit that resulted in an end land rate of over $7,800/ sqm, further solidifying the market as a genuinely high quality commercial destination. The exclusive Knight Frank agents ran a highly competitive EOI process that generated strong interest from multiple groups, and despite the headwinds faced by Victoria’s most recent lockdowns, were able to secure an outstanding result that serves as further evidence of the strong developer appetite for quality opportunities in Victoria’s regional centres.
