An industrial area on the Barwon River can become the epicentre of a business cluster set to spark a property boom.

Macroplan executive chairman Brian Haratsis said Geelong’s commercial office market is poised for exponential growth with the new cluster developing at Newtown.

Mr Haratsis, an economist and future strategist, drew parallels to thriving business precinct at inner Melbourne’s Cremorne two decades ago, highlighting the early demand for office space at a Newtown strata office project.

“Newtown is witnessing the emergence of professional clusters, a phenomenon that historically catalyses a surge in mixed-use developments, including food and beverage establishments, retail outlets, offices, and residential spaces,” Mr Haratsis said.

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