A large 15.6ha site in the Mornington Peninsula has been offered to the market with plans to be sold via Expression of Interest.
Stonebridge Property Group’s development site sales division of Julian White and Chao Zhang have been appointed to market the property at 91 Dandenong Hastings Road, Somerville.
The large parcel of land is a unique offering being zoned Special Use by the council in relation to the Western Port Bay, which means a traditional subdivision development is unlikely but alternate uses including development for a lifestyle residence, an education center, hobby farmers or Port related industrial/commercial uses could be considered (STCA).
“The property has been in the hands of the current landowner for over 43 years now and will be a strategic landbank for the next purchaser. This landholding is within the Urban Growth Boundary and the Zoning is very unique but also very flexible with it’s uses relating to the port.” – Mr Zhang said.
Although it has been a great investment for them, they have made a clear decision to move on” said Chao Zhang
Interestingly, the site sits within Melbourne’s Urban Growth Boundary and is only a 5 minute drive to Somerville town centre and a 10 minute drive to Hastings town centre.
Somerville is known for it’s large land parcels with many acerage homes in the area selling for well above the $2million mark.
91 Dandenong Hastings Road, Somerville comes to the market, at a time that residential prices are at all time high’s across Australia. “According to a Core Logic report, Melbourne dwelling prices surged 2.1% quarter-on-quarter, with Melbourne’s median price now the highest it has ever been. This growth should lead to more demand for land which makes 91 Dandenong Hastings Road a great landbank opportunity” said Julian White.
For further information please contact:
Chao Zhang 0411 625 068
Julian White 0422 764 137