Two More Occupiers Commit to Occupy Space in Geelong’s Wilmac Corio Industrial Development

Two more occupiers have committed to occupy space in Wilmac Corio, a unique new industrial development in the Geelong, with the project now having reached practical completion.

Strategically located at 128-146 O’Brien’s Road in Corio, Wilmac Corio is the only industrial project in the region offering newly built warehouses of 1,000sq m or more – an offering that’s in high demand and short supply.

With just three of the 12 architecturally-designed warehouses in the development remaining, the $56.5 million project has now reached 75% sold, totalling over $43.7 million in transactions.

Many buyers are local operators investing in their own premises, while others are leasing from investors—underscoring the precinct’s long-term appeal to both owner-occupiers and investors.

The latest commitments come from two high-profile local businesses – Polyaire, a national HVAC supplier, and Stage II, an Australian fashion powerhouse.

Polyaire has signed a seven-year lease with a five-year option for Lot 1 in Stage 1, securing a 1,400sq m facility with mezzanine office space and dual roller doors. The building, situated on a 2,185sq m allotment with 17 car parks, will serve as the new Geelong base for the company as it relocates from Belmont to a more modern, growth-aligned footprint.

Meanwhile, Stage II—which began in a Geelong garage and has evolved into a multinational clothing wholesaler and retailer—has doubled down on the estate, purchasing Lot 4 and leasing Lot 6 for a combined 4,811sqm of space. The move will relocate their warehousing operations from South Geelong, supporting their expanding logistics operations across Australia, New Zealand, and Asia.

The commitments by Polaire and Stage II follow other high-profile recently-announced occupiers also set to move into Wilmac Corio including Direct Freight, which purchased a warehouse in the development to set up a new distribution facility, and global leading bicycle wheel manufacturer Partington, which has leased space in an expansion move.

Knight Frank and Darcy Jarman Real Estate are marketing the warehouses in the two-stage Wilmac Corio development for sale and lease on behalf of Victorian-based developer, Wilmac.

Rental rates in Wilmac Corio start from $159/sq m, while the warehouses are selling from $2,513/sq m.

The warehouses in the development, which have been constructed by C3 Constructions, range in size from 1,320sq m to 2,558sq m, with each having an additional 195sq m of mezzanine office. Lot sizes for the remaining warehouse range from 2,393sq m to 2,656sq m.

Wilmac Corio is strategically located in the heart of Geelong’s largest dedicated industrial precinct, with fast access to the Geelong Ring Road and beyond, providing connectivity to major major arterial roads, rail, port, and airport facilities.

The 12 warehouses in Wilmac Corio include a generous private hardstand area, ample onsite parking and offer secure gated access off a central estate road, Industry Place.

National Property and Fleet Manager Dean Placanica said: “At Polyaire, we are committed to delivering the highest level of service to our clients.

“Our Wilmac Corio location is strategically positioned to support our customers’ needs and growth well into the future. We believe this site will play a key role in enabling us to serve our clients effectively for the next decade and beyond.”

Stage II CFO Rohan White said: “Driving Stage II’s National Wholesale and Retail Logistic requirements was the need for quality large scale warehousing solutions in the Greater Geelong Region – an offering that has been rare in recent years.

“With convenient access to Geelong’s CBD and close proximity to our distribution network in Melbourne, the Wilmac estate in Corio quickly stood out as a strategic choice. It has since provided to be an ideal location for servicing our customers.

“The team at Wilmac were prompt and responsive, making the entire process – from initial inquiry through to final acquisition, both efficient and enjoyable. We look forward to working with them in the future.”

Knight Frank’s Steve Jones said the warehouses in Wilmac Corio had been highly sought after from a range of industrial occupiers, some of whom were looking to buy, while others were looking to lease space.

“Many occupiers moving into the development have been local businesses looking to expand and secure their presence in Geelong, which is evidence of their confidence in the region,” he said.

“Geelong offers relative affordability for industrial users compared to Melbourne, but it also has strong growth prospects given its strategic location as a gateway city, accessibility to key areas such as Melbourne, the Geelong Port and Avalon Airport via key arterial roads, and its growing workforce.

“Wilmac Corio is the only industrial development of its size and quality in this fast-growing region, hence it is attracting the best in terms of occupiers.

“Now that practical completion has been reached, we expect to see a further flurry of activity amongst potential occupiers, including buyers and tenants.”

Stamp duty concessions of 50% are available for regional commercial and industrial property in Victoria, adding to the affordability proposition of Wilmac Corio.

Wilmac Director Angus McQueen said the development had delivered on its promise to raise the bar for industrial in Geelong.

“We’re proud to have delivered a premium estate that has clearly struck a chord with the market. With only a few warehouses remaining, we’re seeing strong interest from both occupiers and investors looking to secure their place in one of the region’s most exciting industrial hubs.”

Wilmac Corio is the developer’s second major success in Geelong, following the 2021 sell-out of a 70-lot industrial estate in Breakwater. Across more than 20 projects, Wilmac has delivered over 500 warehouses in key Victorian growth corridors.

For more information, please visit: Wilmac-corio.com.au.