Busy South Geelong site selling after railway crossing removed

Owners of one of the last undeveloped large scale properties on Fyans St have waited until after one of the city’s busiest railway level crossing intersections was removed before relisting the property for sale.

The 2341sq m property at 186 Fyans St, South Geelong, is scheduled to be auctioned on February 8 after hitting the market this week.

Ray White, Highton agent Sean O’Brien said the property offered a flexible warehouse development opportunity for new owners to capitalise on the new-found exposure opposite the railway overpass that removed a complicated level crossing and intersection of Fyans, Wood and Carr streets.

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Price expectations were between $2m and $3m, Mr O’Brien said.

“The big advantage is having nearly 2500sq m (of land) with two street frontages facing Fyans St and Wood St as well,” Mr O’Brien said.

The industrial property 186 Fyans St, South Geelong, has been listed for sale after the level crossing at Fyans St was removed.

The property has a more than 50m frontage to Fyans St and 36m to Wood St.

“And the big advantage for anybody here is having a government organisation right next door in Vicroads.”

The property has a more than 50m frontage to Fyans St, with 36m facing Wood St.

“We would expect to see a long-term developer looking at something as the exposure to Wood St and Fyans St and now having the raised level crossing you’ve got great exposure for anything that can be built.

“There could be office or storage facilities or whatever. It may be even a new car yard could go there, which is what it was many years ago.”

The property has an flexible Industrial 1 zoning, two existing sheds and a large hardstand area dating from the previous use as a car yard.

But a popular food outlet operating on the property probably gives the best evidence of what the exposure means, Mr O’Brien said.

Great Ocean Rolls has become a favourite for lunch since opening at Fyans St, South Geelong.

Great Ocean Rolls has set up an outlet on the front lot and its banh mis as renowned as one of Geelong’s best cheap eats.

“That’s a very popular shop there and for the right person, they can put a cafe on there and they will always have a long-term tenant because they get very busy during lunchtime because of the industrial area around there with very little to eat,” Mr O’Brien said.