A $10m industrial factory built for spec at Corio attracts a national transport industry business that sees the potential of Geelong’s ring road employment precinct.
Geelong property developer Lino Bisinella certainly knows how to pick ’em.
Mr Bisinella, who founded Bisinella Developments nearly 60 years ago, revealed he bought his first parcel of land in what eventually became the Geelong Ring Road Employment Precinct for $10,000.
He thought it a safe bet in the knowledge the freeway would eventually pass right beside the property.
Bisinella’s industrial holdings in Geelong’s north are now worth millions and it owns, leases and manages more than 110,000sq m of warehouse space in the Geelong area.
The developer, now lead by chief executive officer son Richard Bisinella welcomed Deputy Prime Minister Richard Marles to its latest project, a 3600sq m industrial factory complex that’s just been leased to a national truck firm.
Mr Bisinella said the developers had built the 3600sq m warehouse complex as a spec project, without a tenant in mind.
Velocity Truck Centres signed a 10-year lease on the 3637sq m property at 35-45 Technology Close, Corio, and is set to relocate from Edols Rd, North Geelong.
The property, which is near Bacchus Marsh Rd, will serve as the business’s Geelong truck sales and servicing hub.
Velocity sells Fuso, Freightliner and Mercedes-Benz trucks, from 4.5t flat bed trays to road trains.
Chief financial officer Joe Calabro said the traffic on Bacchus Marsh Rd alone gave them confidence in the site.
“Once people see us in town with the brands that we serve, you’ll find other truck people will move out onto the side of the highway as well because it is really the great position with the main freeway running around.”
Richard Bisinella said the key to Geelong Ring Road employment precinct was the Industrial 2 zoned land connected not only to the freeway, but to Avalon Airport and Geelong’s sea port.
“The types of businesses that can locate here, there’s really not many other opportunities inside this region,” he said.
“Melbourne’s industrial land footprint has been massively consumed over the last several years – their prices are massively escalating.
“There’s also an economic reason to move to Geelong – you’ve also got the benefits of having access to the port, Avalon, a great workforce to the ring road and all this infrastructure and also an opportunity for people to live here, have a more affordable lifestyle.”
Deputy Prime Minister Richard Marles said it was some of the best transport-connected land in the nation.
“Access to the seaport, airport, highway number one, national rail gauge, it’s all here. You can’t find this anywhere.
“This is an industrial economic future for the town, but it doesn’t happen unless you’ve got developers. I mean, who else specs a $10m shed?
“But what comes from this is this whole precinct is going to employ so many people.”
Lino Bisinella said spec building sheds made sense.
“We’ve always built spec because big companies always move quickly. Incitec they saw our warehouse already finished, empty. They took it over straight away,” he said.
“To me this is the most important part of Geelong.
“I knew the highway was coming 60 years ago, and then eventually it came along, that made a big difference.
“The first 10 acres cost $10,000 and now they are talking millions.”
Story with thanks to news.com.au