Future Torquay North housing block for sale
One of Torquay’s last developable land lots has hit the market, with selling agents spruiking an opportunity for hundreds more residential properties.
South Melbourne-based Core Projects has listed 120 Messmate Road for sale, with the 16.2-hectare site projected to deliver up to 233 lots when developed.
The listing proposes one of the lots could become a 7,400sqm “medium density super lot” that could contain dozens more individual properties within the same allotment.
The property falls inside a final “future settlement area” outlined in the Surf Coast Distinctive Area and
Landscape policy earlier this year, which stretches from Messmate Road to a Torquay North ridgeline.
The property, which presently includes a three-bedroom house, has changed hands twice in the past decade, according to PropTrack: for $1.5 million in May 2013 and again for $5.32 million in November 2017.
Core Projects has promoted the property as a rare opportunity to develop land in the town’s always in-demand market, describing it as “one of the last remaining development opportunities of scale within Torquay”.
“The total scarcity of available developable land has created vibrant conditions for the residential land market in Torquay,” the agent stated.
“120 Messmate Road is ideally positioned to capitalise on these powerful economic trends well into the future.”
Agents also pointed to its proximity to Torquay North Town Centre, and the future Torquay Community Hospital and Surf Coast Aquatic and Health Centre.
Core Projects is accepting expressions of interest for the site until August 3.