The former Meals on Wheels home at 59 Bacchus Marsh Rd, Corio, has been listed for sale with price hopes from $440,000 to $460,000.
A Corio property used to cook delivered meals for elderly and disabled people is likely to become the target of property developers.
But the property at 59 Bacchus Marsh Rd could still attract a private business to continue the use of the commercial kitchen facility, or go down another path, such as a childcare or medical centre.
McGrath, Geelong agent Jim Cross has listed the 658sq m property with price expectations from $440,000 to $460,000.
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“We expect we will get myriad buyers from different fields on that particular property,” Mr Cross said.
“It’s obviously zoned residentially, however it does have an overlay allowing for food handling and preparation, which is obviously what it was used for its previous use.
“They could be a residential developer or someone buying the property to put a house or a couple of townhouses on the site subject to council approval.
“However it’s such a good meal prep opportunity for someone that’s running a small to medium size business that wants to make and package food on site.”
The former Meals on Wheels home at 59 Bacchus Marsh Rd, Corio, has been listed for sale with price hopes from $440,000 to $460,000.
Mr Cross said the facility includes a cool room and stainless steel benches.
The City of Greater Geelong owned property has attracted immediate interest after being listed for sale last week.
Corio and Norlane have become hot property with investors in recent months, as interstate buyers perceive the region to be affordable and at the bottom of its property cycle.
“There’s been a huge increasing in specifically Sydney buyers that have been buying down in the northern suburbs of Geelong and a lot of buyers advocate act on behalf of some reasonably wealthy investors who don’t have the time to do the research to buy property.
The former Meals on Wheels home at 59 Bacchus Marsh Rd, Corio, has been listed for sale with price hopes from $440,000 to $460,000.
“They’re saying Victoria and that northern side of Geelong is a really good opportunity to invest in our state.”
The former Meals on Wheels centre is the first in another tranche of properties has been put up for sale by Geelong’s council.
Another is a City-owned car park in central Ocean Grove.
The council had previously sold a number of landmark properties, including the Civic Centre car park in Gheringhap St to Costa Asset Management for more than $22m and the site of the Geelong Bowling Lanes in Belmont.
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