292-296 Princes HighwayCorio VIC 3214
Property Details for 292-296 Princes Hwy, Corio
Last Listing description (February 2023)
Great opportunity for an Investor or Developer to take advantage of a large 25 room Motel perfectly positioned on the Princes Highway. Corio Bay Motel is the first Motel from Melbourne into Geelong and is also the closest motel to Victoria's second largest Airport (Avalon). Located 9 kms from the Geelong CBD
Long history of strong performing investment
25 Room Motel with outstanding exposure to Princes Hwy
Dining room & kitchen facilities
5 year lease from 1 August 2018 with further options
Current income $159,552.44 + GST + outgoings
Potential to add further rooms (STCA)
Dual street access with excellent onsite car parking
Land Size: 2,323m2
Conveniently located minutes from a major shopping centre, popular colleges, schools, and major sporting venues
Property History for 292-296 Princes Hwy, Corio, VIC 3214
- 24 May 2022Sold for $3,100,000
- 29 Apr 2022Listed for Sale $3,000,000 - $3,150,000
- 17 Oct 2018Listed for Sale Investment - Price on Application
Recent sales nearby
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About Corio 3214
The size of Corio is approximately 19.1 square kilometres. It has 36 parks covering nearly 8.8% of total area. The population of Corio in 2016 was 15296 people. By 2021 the population was 15497 showing a population growth of 1.3% in the area during that time. The predominant age group in Corio is 20-29 years. Households in Corio are primarily couples with children and are likely to be repaying $1000 - $1399 per month on mortgage repayments. In general, people in Corio work in a labourer occupation.In 2021, 56.50% of the homes in Corio were owner-occupied compared with 58.00% in 2016.
Corio has 8,079 properties. Over the last 5 years, Houses in Corio have seen a 36.79% increase in median value, while Units have seen a 39.23% increase. As at 30 April 2026:
- The median value for Houses in Corio is $590,900 while the median value for Units is $457,668.
- Houses have a median rent of $440 while Units have a median rent of $350.
Suburb Insights for Corio 3214
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