From The Victoria Heritage Database:
Historically, the site of and part of one of Geelongs and the States earliest woollen mills and earliest secondary industries. Related closely to the former Barwon and Valley Mills complex in form and material, and the older fellmongeries by it’s siting and general form.
Once two separate mill complexes (this one and the Factories Road mill) and now united under Godfrey Hirst and Co.