Prime Spot for Development

14 Nov Prime Spot for Development

A LARGE residential block with approved plans for an eight-dwelling development has been listed for sale in Highton.

The 1705sq m property at 45 South Valley Rd is sched­uled to be auctioned on November 23 with price hopes of $11 million to $1.2 million.

Permits are in place for the medium-density development, which can replace the existing weatherboard house on the property.

Darcy Jarman, Geelong West selling agent Tim Darcy said the development approval allowed eight single and two­ storey, two and three-bedroom apartments on the property.

The block is close to Hight­on Village, schools and parks.

It won’t be the first of Highton’s original big blocks to be the target of developers, with Geelong builder Biscan Developments completing a complex of eight townhouses at 114 South Valley Rd.

“Given where it is and what it is with the DA in place, there is a pent-up level of demand for these smaller type ameni­ties.” Mr Darcy said. “They’re a more convenient, low-main­tenance way of living.

He said buyers could con­sider other developments for the site, including a medical or childcare centre.

“It’s on the doorstep of Highton shopping centre and it’s easy to get to Waurn Ponds shopping centre,” he said.

“‘It’s a pivotal spot for major amenities and a whole heap of other recreation.”

He said the vendor obtained permits for the development but decided not to proceed.

It is the second develop­ment site currently offered in the neighbourhood.

A 9410sq m property at 2 Morven Court occupies a general residential zone 2 and has price hopes of $3 million.