Development opportunity with approval for 47 houses hits the market

11 August 2022

A large infill development site covering 19,550 square metres with development approval for 47 single and double storey townhouses, at the beachside suburb of Mount Martha, is coming to the market.

The lack of land suitable for residential development on the Mornington Peninsula ensures 180 Bentons Road, Mount Martha is an exceptional commodity, located within the region that is home to over 50 boutique cellar doors and wineries, and just two kilometres from some of the most pristine and popular beaches of Mount Martha and the Mornington Peninsula.

The rare site is easily accessible, with 76.32 metres of street frontage on Bentons Road, and proximity to Mornington Peninsula’s main arterial roads, including Peninsula Link, Moorooduc Highway and Nepean Highway, enabling a seamless drive into Melbourne’s CBD or down the peninsula coast.

Mount Martha is one of the top two suburbs for annual median house price growth in Victoria, with growth over 35 percent, according to the Real Estate Institute of Victoria.

The incredibly rare development opportunity is exclusively listed with Hamish Burgess and Joe Kairouz of Colliers, with price expectations in the vicinity of $17 million.

“As a residential lifestyle destination, The Mornington Peninsula would have to have been one of the most sought-after areas in recent years, due to its proximity and ease of access to inner Melbourne, and its ability to provide both a tree change and a sea change.” Mr Burgess said.

Since the onset of the pandemic in 2020 house prices have soared in coastal locations with city dwellers taking advantage of newfound flexibility in their working environment which has allowed them to work from home, according to Mr Burgess.

“This unique development asset offers a Mornington Peninsula lifestyle underpinned by pristine beaches and  wine region, while still enjoying access to prime amenities, such as Bentons Square Shopping Centre, Mornington Central and the quaint Mount Martha Village.” Mr Kairouz said.

180 Bentons Road at Mount Martha is for sale via an Expressions of Interest campaign, closing 2pm (AEST) on Thursday 8 September.