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Master planned Great Ocean Rd site with views

Property Markets / Transactions

Australia

Apr 04 2017

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April 4, Melbourne –

A 21.5 hectare Apollo Bay site with spectacular ocean views and plans for over 100 luxury residences has hit the market through Savills with expectations or more than $20 million.

A masterplan by Hayball, in conjunction with Joseph Licciardi, for the 30-40 Mariners Lookout Road property provides for 134 luxury three and four bedroom residences on 450 to 1262 square metre allotments. An additional proposed masterplan includes a luxury hotel to the rear of the property with a natural separation from the residential component.  

According to exclusive marketing agents, Savills State Director, Clinton Baxter, with Benson Zhou and Julian Heatherich, the plan takes advantage of the site’s elevation to provide ocean views to all allotments.

``This is an exceptional allotment which provides the purchaser with an opportunity to take advantage of the naturally sloping land to provide well over 100 residences with ocean views. On top of that the proposed masterplan includes a boutique hotel to maximize the site’s full potential.

``The Great Ocean Road address provides further promise in attracting end users to one of Australia’s best known domestic tourist destinations. Indeed the nearly 700,000 overseas visitors to the region annually stamps it as a true international destination,’’ Mr Zhou said.   

According to Tourism Victoria, Great Ocean Road tourism attracted 9.5 million domestic visitor nights in 2014 equating to a 23 per cent share of all domestic tourism nights to regional Victoria. In 2013/14 tourism contributed an estimated $1.9 billion to the Great Ocean Road economy, employing more than 20,000 people.   

Mr Baxter said any future development of the site would be highly sought after whether it be holiday homes, permanent residences or luxury hotel accommodation.

``Located within Victoria’s number one regional tourist destination and in the foothills of the beautiful Otway Ranges, this property has so much potential for any number of accommodation options.

``Apollo Bay’s population swells from 1300 to more than 15,000 in peak summer holiday periods and with domestic visitor nights increasing significantly in recent years (18.5% increase over 2013/14) those people simply have to be accommodated somewhere,’’ Mr Baxter said.

Mr Heatherich said the property was ready for development with only one vacant dwelling on the site and exceptional access along the nearly 700 metres of road frontage.

The property is being sold via Expressions of Interest closing Friday, April 21 at 12pm.  

 

About Savills

Savills is a global real estate services provider listed on the London Stock Exchange. Savills operates from over 700 corporate and associate offices, employing more than 30,000 people in over 60 countries throughout the Americas, the UK, Europe, Asia Pacific, Africa and the Middle East, offering a broad range of specialist advisory, management and transactional services to clients all over the world. www.savills.com.au or www.savills.com.  Follow @SavillsAus for the latest Australian and global real estate news and research.

 

SOURCE: Press Release

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