Cotton On founder Nigel Austin secures Fyansford town centre sites
Aerial images for ICD_Property show how a Fyansford town centre could look under a masterplan for the development.
Cotton On co-founder Nigel Austin is set to push ahead with plans to develop a new town centre in Fyansford.
Documents confirm the Geelong billionaire and majority owner of the global clothing and stationery group had bought the Hyland St properties that are a key element of the Gen Fyansford housing development in the growing outer western suburb.
Gen Fyansford developers ICD Property and Supalai sold the properties on two sides of the Hamilton Highway, netting $7.15 million.
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The deal also contains a commercial arrangement to ensure plans fit within the masterplan for the Gen Fyansford masterplan but the developer is excited after early discussions with the new owners.
Nigel Austin.
Aerial images for ICD_Property show how a Fyansford town centre could look under a masterplan for the development.
ICD Property managing director Matt Khoo said Gen Fyansford residents and the wider Geelong community would be pleased with the results in the next few years.
“As Gen Fyansford’s developers it was important to us to select a purchaser who shared the community’s best interests and I believe we have done that,” Mr Khoo said.
“I am confident they have the perfect blend of intimate local knowledge and expansive capabilities to deliver the Gen Fyansford Town Centre in a way that best serves our estate residents and wider surrounding community.”
Aerial images for ICD_Property show how a Fyansford town centre could look under a masterplan for the development.
The mixed use site joins the historic Fyansford town centre. Picture: Alan Barber
The two town centre sites at 35 and 51-59 Hyland St have been a drawcard to purchasers of the estate.
The 4.79ha property at 35 Hyland Street is predominantly zoned Commercial 1 while 51-59 Hyland St sits on 1.438ha and is entirely zoned as Mixed Use.
City of Greater Geelong signed off on the masterplan for the commercial centre in 2019.
The two sites have the potential for a range of uses, such as a supermarket, specialist retail, commercial and community facilities, plus options for a mix of medium and high density residential, as approved by Geelong’s council in a masterplan for the town centre.
The 6.23ha landholdings were sold by Benson Zhou and Julian Heatherich of Savills Australia.
The silos from the Geelong Cement works, with portraits from street artist Rone, were demolished before the site sold off to a property developer. Picture: Alan Barber
ICD Property and Supalai Australia Holdings chose to sell the commercial landholdings to remain focused on delivering the estate’s residential components.
The estate will deliver 1400 lots and the commercial town centre, 5km west of Geelong’s central business district.
The town centre deal was signed last year, while former cement works owner Adelaide Brighton sold off its remaining hilltop site at 170-174 and 222 McCurdy Rd for $11 million.
That deal, which is due to settle in November 2023, will allow buyers, Melbourne developer Base Group, to build townhouses on the 2.88ha site of the former cement works silos.
Charter Keck Cramer acted as transaction advisers for the sale by Gross Waddell RCR’s Danny Clark, Alex Ham and Andrew Greenaway.
The silos, which were demolished in 2021 ahead of the sale, featured portraits of local identities painted by street artist Rone.
