Ford moves to sell its Australian manufacturing plants
Ford Australia will sell its massive former manufacturing plants in Geelong and Broadmeadows, bringing to a close more than half a century of Australian motoring history and local car production.
The last Australian-made Ford, a blue XR6, rolled off the Broadmeadows assembly line in October two years ago and 600 workers lost their jobs as Ford closed its factory doors.
The shutdown marked the end of the road, too, for an enduring motoring and cultural icon, the Ford Falcon.
A year later, workers at General Motors Holden witnessed the last Commodore, a red V8, being built at Holden’s Elizabeth plant in South Australia and Toyota closed the doors on its Altona factory in Melbourne where it produced the Camry.
Worth an estimated $75 million, Ford’s plants cover 85 hectares and have more than 265,000 square metres of factory floor and warehousing, equivalent to about 13 times the size of the MCG’s playing field.
Ford Australia chief executive Kay Hart said the company had undertaken a series of studies after it shut down manufacturing in 2016 to assess the best use of the sites.
“The move to seek expressions of interest for parts of our former manufacturing sites forms part of our broader business transformation plan,” Ms Hart said.
“We’re proud of our history, and as we continue to transform our business, we remain invested in and committed to the communities in which we live and work.”
The global car giant first announced it would end local manufacturing in 2013, a move that saw it shed 1300 jobs and, along with the closure of rival manufacturers, prompted the cascading shut down of multiple other local car part manufacturers and suppliers.
CBRE’s Dean Hunt, Chris O’Brien and Alex Moffatt will handle the transaction.
“The existing buildings could be repositioned to accommodate multiple tenancies, generate income and support numerous development initiatives,” Mr Hunt said.
The Broadmeadows factory - its official address is actually in neighbouring Campbellfield - is located in Melbourne’s northern industrial heartland, an area experiencing historic low vacancy rates for factory and warehouse occupiers.
Mr Hunt said the properties would be sold in one line or as individual assets, while the Campbellfield site could be separated into two super lots.
“These properties offer highway exposure and benefit from access to major arterials, public transport links and key infrastructure such as Melbourne International Airport, Avalon Airport, and the Port of Geelong,” he said.
In a mark of Ford’s local prominence, one of the first thing visitors saw when entering Geelong by road was the company’s striking blue logo outside its vast complex on the Princess Highway.
The Princess Highway plant is dominated by a series of heritage art deco factory buildings. Another site on Seabeach Parade is also on the market.
Ford, expecting interest from both local and offshore groups, hopes to have offloaded its plants by the end of October.
Holden sold its massive Fishermans Bend car plant to the Victorian government in 2016 in a $130 million deal that will see it transformed into an innovation and employment hub.
GM put the 37-hectare site in Port Melbourne on the market after it announcing it would end its 80-year history of building Australian motor vehicles.
https://www.smh.com.au/business/comp...ource=rss_feed
