Mixed-use Development Approved in Geelong CBD Fringe

Planning authorities have granted approval for a landmark mixed-use development at the corner of Gheringhap Street and Brougham Street, marking a turning point in Geelong's CBD renewal push and attracting fresh investment to the city's core.

The 12-storey project, backed by Melbourne-based developer Axiom Projects, will deliver 340 apartments across studio, one-, two- and three-bedroom configurations, alongside 3,500 square metres of retail and hospitality space. The site, currently occupied by a heritage-listed warehouse slated for adaptive reuse, sits within 200 metres of Simmons Reserve and the Geelong library precinct.

"This approval demonstrates genuine market appetite for inner-city living in Geelong," says Helen Radford, Geelong's senior strategic planner. "We're seeing investor confidence returning to the CBD corridor—particularly from Sydney and Melbourne-based funds seeking yields beyond $680,000 median value markets."

Residential units are expected to price from $395,000 for studios to $820,000 for three-bedroom penthouses, positioning the development squarely within reach of first-home buyers and downsizers attracted by Geelong's 40-minute commute advantage to Melbourne's CBD and lower holding costs than comparable inner-ring suburbs.

The approval carries conditions: developer Axiom must deliver 50 car parking spaces (35% below typical CBD standards), contribute $2.2 million toward local transport infrastructure, and retain the heritage façade of the existing Gheringhap Street frontage. Landscaping will include a publicly accessible laneway connecting to Simmons Reserve, expected to boost foot traffic in the surrounding precinct.

Construction is slated to begin in early 2027, with the first stage of 120 apartments anticipated for occupation by mid-2029. Local agents report early interest from interstate investors and empty-nester demographics seeking lifestyle positioning with beach access—the Barwon Heads and Torquay Surf Coast lie 25 kilometres southwest.

The green light arrives as competing projects gain traction: Stockland's Armstrong Creek master-planned community continues absorbing families seeking new-build family homes, while heritage precincts in East Geelong and Newtown attract boutique boutique residential conversions.

Geelong property analysts suggest the Gheringhap Street approval signals a market inflection. "After years of flatlined CBD activity, we're seeing fundamental demand drivers align: remote work flexibility, cost arbitrage versus Melbourne, and genuine lifestyle appeal," says Chris Mantell, director of Geelong Property Partners. "This project will establish a new price benchmark and likely trigger follow-on approvals across the CBD."

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