This article is from the Australian Property Journal archive
Around 49,631 sq m of mixed-use sites are on the market and tipped to fetch around $16m.
The three-property landholding in Geelong’s Mount Dundeed comprises 29,200 sq m at 465 Surf Coast Highway, 4,871 sq m at 1-19 Unity Drive, and 15,560 sq m at 2-20 Unity Drive.
Development of 43 townhouses across lots two and three of the site is approved for the site.
The 4.96-hectare properties are positioned directly opposite of Armstrong Creek Town Centre, with a Woolworths supermarket in the works alongside potential developments such as large-format retail, hardware stores, and mixed-use spaces.
The sites have 420m of total frontage to the Surf Coast Highway and are 8.5km south of Geelong CBD.
Colliers and Stonebridge Property Group are managing the sale through an expressions of interest campaign closing April 9.
“With site services and planning already well advanced or completed, the development process is streamlined, significantly reducing upfront costs,” said Tim McIntosh, national director for retail middle markets at Colliers.
“These sites are perfectly positioned for residential, retail, and mixed-use development within one of Victoria’s fastest-growing corridors and represent an exceptional opportunity for developers and investors.”
Stonebridge Property Group’s national partner Julian White said Armstrong Creek and Mount Duneed are among the fastest-growing areas in regional Victoria, having undergone a monumental transformation from rural farmland to a bustling residential and commercial hub.
