By JOHN VAN KLAVEREN
GEELONG council hopes to ramp up activity in its northern industrial estate following a “land revaluation”, according to deputy mayor Bruce Harwood.
Cr Harwood confirmed a Queensland-based chemical company had bought a second lot in the development, called Geelong Ring Road Employment Precinct (GRREP).
The food industry company, which manufactures horticultural and agricultural chemicals, has bought an 11,000-square-metre lot to establish a purpose-built plant.
City Hall expects the plant to employ 50 staff and indirectly create a further 70 jobs.
Cr Harwood said City Hall had agreed to terms with the company but details of the sale were still confidential.
“We want to get activity out there. We’ve had the land revalued and as a council we have come to an agreement.
“We have a market valuation and a land valuation and there had been a gap. We’ve managed to close the gap and come to an agreed value.”
The sale is the estate’s second since opening over three years ago.
Two other industrial estates in the Armstrong Creek growth area languishing. The area’s north-east industrial precinct was expected to generate 8000 jobs, while its western counterpart was meant to generate work for 7350.
Armstrong Creek’s Keystone Business Park, in the north-east precinct, has been delayed indefinitely as it struggles to attract businesses.
The estate’s high-profile sponsorship arrangement with Geelong Football Club collapsed last month, with the Cats writing off a proposed $2 million training facility at Keystone as part of the deal.
Construction was expected to begin in June 2012 and finish in early 2013.
A Carter Group industrial estate earmarked for the western precinct has yet to proceed.
Former Geelong mayor Ken Jarvis criticised the GRREP during November’s mayoral election campaign, saying it had cost $10 million to establish but council’s attempt to sell its land had been “largely unsuccessful”.
The Independent reported in August 2012 last year that City Hall had sold one lot in the estate.
Council expected the 500-hectare estate to create 10,000 direct jobs.
A spokesman told the Independent at the time that the market for industrial land was “very slow at the moment Australia-wide”.
