Great Ocean Road site on the market with $20 million expectations
A 21.5 hectare site in Apollo Bay on Victoria's Great Ocean Road is on the market with expectations above $20 million.
Plans for the 30-40 Mariners Lookout Road property features 134 luxury three and four bedroom residences on 450 to 1262 square metre allotments, designed by Hayball in conjunction with Joseph Licciardi.
A plan is also proposed for a luxury hotel to the rear of the property.
Clinton Baxter, Savills state director said 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," he 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 percent increase over 2013/14) those people simply have to be accommodated somewhere,’’ Mr Baxter 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.
