ford foundry

[burnz]

http://www.geelongadvertiser.com.au/...3035_news.html

sorry if posted before, but this doesent sound right

[RG]

That article is from February....

[burnz]

Originally Posted by RG

That article is from February....

so thing changed since feb??
is the article pushing panic button??

[JPFS1]

I wonder if Frank Costa is offering $$$ they can't refuse?? He owns a heap of land next to Ford and is planning a 100mil development. I'm sure he'd want his hands on this if he could get it. But I doubt it.

I've looked into this and as of 4th September 2009, all is looking stable for the plant. Government officials were down there looking at the progress of the plant upgrades associated with Fords 230mil sustainability projects.

[Sprint XR8]

Costa sold the Ford land in 2007 to a Queensland developer when he couldnt get it rezoned from industrial to retail. It was then resold last march to geelong buisiness operator Ian Ballis.

Massive Op Shop Centre Planned For Ford Factory, Geelong

Monday, 23 March 2009 10:00
AUSTRALIA'S largest op shop centre - capable of being a leading tourist attraction - has been proposed for the former Ford chassis component plant in North Geelong.

Market operator Ian Ballis has paid $7.1million for the 13.4hectare former Ford site, or less than half the price paid by the vendor, Queensland-based City Pacific, two years ago.

Mr Ballis' proposal is to incorporate the 2.4hectare Ford factory building into a "one-stop shop" for second-hand clothes, antiques, furniture - and almost everything else considered too good to throw out, or worth restoring.

He said the development would be the largest second-hand market in Australia, and would capitalise on the site's huge 750-metre frontage to Melbourne Road - a thoroughfare between Melbourne and Geelong.

Op shop operators, many of which are charity-based organisations, will be able to use the facility as a storage and distribution centre, while also having a portal for attracting customers.

Mr Ballis said 60,000 cars a day passed the site on the busiest arterial road in Geelong.

Fund manager City Pacific is believed to have paid about $18million for the Ford factory site about two years ago.

City Pacific paid this price following a failed attempt by the previous owner, Geelong business identity Frank Costa, to develop the site into HomeTown, a $100 million, 41,000-square-metre homemaker centre.

That project flopped after the State Government refused to rezone the land from industrial use. Mr Ballis' proposal will not require a rezoning.

A spokesman for City Pacific declined to comment on any part of the deal when contacted by Capital Gain.

CB Richard Ellis is believed to have marketed the property.

Mr Ballis owns other second-hand goods centres, including markets in Warrnambool, Daylesford, Colac, Camperdown and Newcomb.

http://www.realestatesource.com.au/m...y-geelong.html

[bob^]

Not to mention the foundry is on a complete different site to the building mentioned above.
It is about 2km away from the manufacturing plant.

[Paxton]

Originally Posted by bob^

Not to mention the foundry is on a complete different site to the building mentioned above.
It is about 2km away from the manufacturing plant.

Correct. The article above is talking about the old 4 Cyl plant.

I'd be more worried about Geelong Engine if I were anyone.

[JPFS1]

Thanks for clearing that up.

But as I said, it's believed the Industry & Trade minister was there quite recently and all looking good. Either all is on track or things have changed in the last month.

[Bossxr8]

Originally Posted by Paxton

Correct. The article above is talking about the old 4 Cyl plant.

I'd be more worried about Geelong Engine if I were anyone.

More than likely engine and casting will go as a package.