Work has started at Barwon Business Park, the 38-million-dollar strata office development by IDS Developments on the banks of the Barwon River in Newtown.

Fronting the Barwon River and the city skyline, this project signals a new era for the industrial precinct in Geelong, promising a revitalisation that maximises the area's natural beauty and will create a new cluster neighbourhood.

Since hitting the market Barwon Business Park has attracted significant interest, with 65 per cent of its strata offices sold before construction started.

Phil Petch, the Founder of IDS Developments, is excited by the project highlighting the site's undeniable potential. "The location is simply too remarkable to ignore. While initially considered for high-end residential development, current zoning restricts the land to commercial purposes, setting the stage for future capital growth," said Petch.

Michael De Stefano, Gartland Projects Director, noted the development's strong appeal to owner-occupiers from various professional sectors. "Interest in Barwon Business Park has surged with the onset of construction, indicating a robust demand for premium office spaces in this sought-after location," De Stefano remarked. “it’s a stunning piece of real estate,’ he added.

State Member for Geelong, Christine Couzens officially marked the start of the demolition and was very impressed with the plans for the development, “Geelong requires quality office accommodation, and Barwon Business Park sets a precedent for future developments along the Barwon River," Couzens emphasised.

Geelong Architect Mark Gratwick, joined by developers Phil Petch and Agent Michael De Stefano, provided MP Couzens with a firsthand update on the project's progress, highlighting the strategic relocation of the site to offer breathtaking views of the Barwon River. "The revitalisation of this area will not only bolster the local economy but also create vibrant, mixed-use spaces that cater to the evolving needs of the community," added Mr Gratwick.

Brian Haratsis, Founder of Macroplan, one of the most respected property and planning advisory companies in Australia echoed this sentiment, emphasising the emergence of professional clusters in Newtown and the growing demand for mixed-use developments.

"Barwon Business Park aligns with the trend toward integrated spaces, blending offices, retail, and residential areas to cultivate dynamic neighbourhoods," stated Haratsis.

With over 65 per cent of strata offices already sold off the plan, Mr Haratsis anticipates robust demand for similar ventures, projecting a need for approximately 20 additional business parks to accommodate the burgeoning demand as Geelong's population continues to expand.

"There is a notable demand for this type of business in Geelong, and the city possesses sufficient demand to sustain it. This represents a significant difference compared to the situation ten years ago," Mr Haratsis remarked. Property prices also play in Geelong's favour, with office floorspace commanding substantially lower prices compared to Melbourne.

Additionally, the workforce is increasingly preferring hybrid working arrangements. "Smaller service businesses are seeking such spaces due to the increasing trend of remote work. They desire a centralised location with excellent accessibility," said Mr. Haratsis.

"With river access via bike paths, road access, and a premium environment, Barwon Business Park offers the ideal setting for businesses seeking quality and convenience," he added.

“It’s like Cremorne. A lot of professionals live within the area, just like Cremorne and it’s a highly specialised area – IT, consultants, health professionals and that type of thing,” he said.

“The economic term for it is clustering. People work in clusters and again, like Cremorne is a big cluster of people based on the Yarra, this will be a big cluster of people based on the Barwon River,” added Haratsis

As construction progresses, Barwon Business Park stands poised to be a beacon of modernity and progress in Geelong, with completion scheduled for the latter half of next year.

Barwon Business Park for sale through Gartland Projects agents Andre Veronie, Michael De Stefano and Adam Farrell.

For further information, images, plans and or to make an enquiry please visit the Barwon Business Park website linked in the below contact details.