High profile location to drive interest in Belmont property

2 Glen Ave, Belmont, goes to auction in December.

More than 17,000 vehicles passing each day on the newly duplicated Barwon Heads Rd is part of the attraction of this prime piece of Belmont commercial real estate.

It’s a high-profile opportunity to plan a development to unlock the value of the 2636sq m property at 2 Glen Ave.

Colliers Geelong agents Ben Young, Chris Nanni and Jackson Carrick are marketing the property ahead of an auction on December 11, where the agents expect interest around between $2.2m and $2.4m.

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The property has a 31m frontage to Glen Ave, along with 51m overlooking Barwon Heads Rd offering a potential blank canvas to attract the attention of passing road users.

Mr Young said part of the attraction is the tightly-held nature of the industrial estate wedged between Barwon Heads and Settlement roads.

The area is already undergoing significant transformation, with new property owners investing in modern warehousing that’s finding tenants

“It’s a pocket where they don’t turn over too often and it’s greatly located close to Belmont, Highton and the growth areas towards Waurn Ponds,” he said.

2 Glen Ave, Belmont, overlooks Barwon Heads Rd and is surrounded by national tenants and local businesses.

“The location and the exposure to Barwon Heads road that you get from the rear of the property makes it quite a unique property.”

The property is expected to open the eyes of developers, given the number of high profile businesses operating in the area and recent properties demolished and replaced with new concrete tilt panel construction warehouses.

It has an annual holding income of $70,304 plus GST on a 3-year lease expiring in May 2025, with another three-year option.

That would give new owners plenty of time to consider their options for the Industrial 1 holding.

The property goes to auction at noon on December 11.