The 150-year-old historic woollen mill in Geelong’s Newton has changed hands for the first time in 35 years, with Colliers Chris Nanni and Ben Young managing the sale on behalf of Pegasus Antiques.

Pegasus Antiques have been operating their business within the iconic 3,000sqm mill since 1988, but will now be joining forces with another iconic Geelong business, Kerleys Auctions. The two will team up under the new business name Homesse furniture and homewares and sell high end quality modern furniture on an online platform.

Colliers Executive Chris Nanni said, “We were thrilled and grateful when the opportunity arose to market this historic and iconic Geelong property. We had provided some sales advice in the lead-up to the campaign and were blown away by the level of interest we received, before it was snapped up by developer Hamilton Group.”

Cam Hamilton, Director at Hamilton Group, said, “This is truly what Hamilton Group is about. We love these buildings.”

Sitting on a substantial landholding of 3,673 sqm of Mixed-Use Zone land, the iconic mill provides several development possibilities, taking advantage of the uninterrupted views.

“We are looking to split it into multiple tenancies, accommodating retail to food, drink, and office, much like the Woolstores we completed on 400 Pakington Street, Newtown. We will take this one to the next level to ensure its survival for the next 100 years,” said Mr Hamilton.

Mr Nanni adds, “Geelong continues to provide fantastic development opportunities in a fast-growing market. As Australia’s second fastest growing city, Geelong will stay on the radar for many investors and developers, as the growth rate from an economic and population standpoint only continues.”

“It’s certainly an exciting time for Geelong as we continue to strive for more infill development and revitalise some of our older and historic buildings,” Mr Nanni concludes.