Harvey Norman buys Geelong growth corridor farm
Harvey Norman has backed the east Geelong growth corridor, outlaying $11 million for a rural plot beside the Gateway Plaza Leopold.
At 92-100 Melaluka Road, also with frontage to Clifton Avenue, the 6.72 hectare rectangle shaped farm has been identified by council for a rezone.
The land is expected to make way for a homemaker centre it will part occupy (Harvey Norman is known to invest in bulky goods assets).
It would be the group’s third store in the Bellarine region, lying c16 kilometres east of the nearest, Waurn Ponds.
That business is capturing the Armstrong Creek building boom, which is showing no signs of abating after recent further investments by, amongst others, Central Equity and ID_Land, which owns four in the area, including under its Title Capital arm.
The Harvey Norman Leopold outlet, 10km from the Geelong CBD, will cater for the Drysdale-region growth corridor, capturing Clifton Springs and Curlewis, the latter where Stockland recently snapped up a block.
Residents and visitors to coastal holiday hamlets between Portarlington and Barwon Heads will also fall under its catchment (story continues below).
Following the crowd
According to the most recent Australian Bureau of Statistics research, the Surf Coast is the country’s fastest growing non-metropolitan municipality, with population rising 4.4 per cent to March, 2022.
It was followed by Bass Coast, also in Victoria (3.7pc) then Maitland, in the New South Wales Lower Hunter (3.5pc).
Darcy Jarcy’s Tim Darcy marketed 92-100 Melaluka Rd.
Charter Hall has held Gateway Plaza Leopold in its Retail REIT since outlaying $117m in 2018.
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