A PRIZED council-owned Queenscliff property beside Swan Bay has been sold to Melbourne-based real estate developer Mantello Holdings for $3.5 million.<\/p>\n
The Borough of Queenscliff announced the formal settlement of the 9,509m\u00b2 greenfield site at 61\u201375 Murray Road last week in a deal that included an approved development plan for a 13-lot subdivision.<\/p>\n
The land parcels range in size from 445m\u00b2 to 908m\u00b2 and are being marketed by the developer as ‘The Cove’, with a starting price of $756,500.<\/p>\n
Queenscliffe Mayor Isabelle Tolhurst said proceeds from the transaction would be used to strengthen council’s economic position.<\/p>\n
“This sale bolsters the financial security of council in a time of rising inflation and an increase to the cost of doing business,” she said.<\/p>\n
“The sale will help us deliver more for our community and make investments that serve us for the long-term”.<\/p>\n
Council first published a notice of intent to sell the land at its meeting in July 2018, having owned it since August 1982, and development plans have been in place since 2008.<\/p>\n
A Borough spokesperson said the latest modification to the development plan in January 2019 was in response to community feedback and resulted in altering lot access to a single road to help preserve the environmental features of the existing swale drain.<\/p>\n","protected":false},"excerpt":{"rendered":"
A PRIZED council-owned Queenscliff property beside Swan Bay has been sold to Melbourne-based real estate developer Mantello Holdings for $3.5 million. The Borough of Queenscliff announced the formal settlement of the 9,509m\u00b2 greenfield site at 61\u201375 Murray Road last week in a deal that included an approved development plan for a 13-lot subdivision. The land […]<\/p>\n