Significant vacant landholding in desirable Geelong location hits the market

15 May 2023

Colliers Chris Nanni and Ben Young have exclusively been appointed to bring a strategic urban development site to market in highly sought-after Highton, 6km from Geelong’s CBD.

The significant 3.54-hectare landholding with dual combined street frontage of 161 metres is currently vacant and comes with an architectural scheme (STCA) for 101 townhouses, 64 apartments, a childcare centre, and a medical facility.

Colliers Executive Chris Nanni said, “This is a rare and significant landholding, ready for a visionary developer to create a defining residential or mixed-use project with outstanding access to local, schools, retail, medical and transport in the rapidly growing regional pocket, Geelong.”

“The site is strategically located to major shopping and retail precincts, Waurn Ponds, easy access to public transport and major highways with direct access to Melbourne and other major Victorian regional towns, private and public schools and Deakin University,” Mr Nanni added.

Geelong is the second fastest-growing city in the country, with a population forecasted to grow from its current 280,000 to 510,000 residents by 2050. In recent years, the median house price in Geelong has increased by 26% since April of 2020 to $950,000 and in Highton, the current median house price sits at $925,000.

Colliers Ben Young said, “Geelong has benefited from a major population shift from Melbourne and other regional cities as people are drawn to the various lifestyle opportunities offered in the area. The major shift has come from Millennials, who are now the dominating age group in the workforce, and they are looking for larger, more affordable housing, which has seen an increased demand for housing in Geelong.”

“With over $16 billion in projects and over 120,000 jobs in Geelong, which is growing at 1000 per year, Geelong is no longer the sleepy town it once was,” Mr Young concluded.

140-150 Colac Road & 246-248 South Valley Road Highton is being offered for sale via an Expressions of Interest (EOI) campaign, closing at 2:00 pm (AEDT) Thursday, 8th June 2023.