345-365 Barwon Heads Rd, Charlemont.
Mixed use development options that could be open to buyers are driving interest in a Charlemont property.
The 1.49ha property at 345-365 Barwon Heads Road is part of the Marshall precinct in the Armstrong Creek Growth Area on the southeast outskirts of Geelong.
The precinct is subject to an ongoing structure planning process through Geelong’s council that won’t be completed until the end of next year.
RELATED: Huge price for 1970s beach house
Clifftop house has private beach access
Price point drives bids for rare Geelong home
Darcy Jarman, Geelong West agent Tim Darcy said it was likely most of the land would be designated for residential or mixed use.
The latter is proving a winner with buyers, keen to unlock the 200m frontage to the arterial road at the intersection with Horseshoe Bend and Tannery roads.
345-365 Barwon Heads Rd, Charlemont.
“We think this particular parcel of land is going to have far more attributes for mixed use development rather than residential,” Mr Darcy said.
“It’s got a 200m frontage to Barwon Heads Road, it’s serviced by a further frontage to Horseshoe Bend Road and basically sits on that corner of Tannery Road.”
Price hopes were between $1.5m and $1.6m, he said.
345-365 Barwon Heads Rd, Charlemont.
An existing four-bedroom house, in-ground solar heated swimming pool and metal deck garage is on the property.
“It could also be suitable as a lifestyle block,” he said.
“But given it sits on the southern boundary of Geelong and that area has become a major hub of development towards Armstrong Creek, there is going to be some pretty serious development upside for something of a mixed use nature.
345-365 Barwon Heads Rd, Charlemont.
345-365 Barwon Heads Rd, Charlemont.
“We’ve had a positive response to it. There had been some overture about it being suitable to a petroleum site, which some say has serious merit.
“We understand there is some application (from the dispossessed mortgagor) before council at the moment, but they haven’t disclosed any information because it hasn’t been processed.
The mortgagees expressions of interest campaign closes on August 27.
The post Barwon Heads Rd: Development options open eyes to Charlemont property appeared first on realestate.com.au.