An exceptional opportunity to secure a high-profile development site in the heart of the Geelong CBD, offering holding income while you plan its future potential. Leased for five years from 1 October 2023 (with no further options), the property provides flexibility and income security during the early planning phases. Occupying 1,616m² approx. of Activity Centre Zoned land, the site includes an existing 1,100m² approx. building and benefits from a preferred building height of up to 60 metres - unlocking the potential for breathtaking views across Corio Bay and the wider Geelong region. 38–40 Mercer Street is a rare chance to secure a significant CBD holding with both income and immense future potential. • Total land of 1,616m² approx. with existing 1,100m² approx. building • Secure 5-year lease commenced 1 October 2023 (no options) • Activity Centre Zoning with preferred height limit of 60m^ • Scope for multiple development outcomes (STCA) • Elevated outlook with expansive Corio Bay and city views • Close proximity to Geelong Train Station, Westfield Shopping Centre, and key cultural and commercial precincts • Surrounded by major infrastructure and development projects, including the Geelong Convention and Exhibition Centre and port upgrades • Activity Centre Zoning