Prominent residential zoned holding snapped up by national aged care provider

Retirement living is a driving force in the Geelong property market with providers jumping at the opportunity to secure land close to shopping and medical facilities.

So it’s no surprise that retirement living provider Lavande has snapped up Colliers recent Highton listing that neighbours big brand names like McDonalds, APCO and Medical One with Aldi and Waurn Ponds Shopping centres across the road.

The sale of the 47,108sqm landholding represents a new record for residential zoned land in Geelong at this size.

This vacant residential infill landholding has sold in excess of $20 million through the Colliers team of Chris Nanni and Ben Young.

Well-serviced and connected by roads, rail and public transport the 47,108sqm site at 140-150 & 152-156 Colac Road and 246-248 South Valley Road in Highton

Levande are a national brand with over 50 communities throughout Australia seeing this purchase as a further foray into regional Victoria with Ballarat and Warrnambool retirement communities already in place.

Colliers sales executive Chris Nanni said the campaign generated interest from local and national residential, aged care and retirement living developers, many of whom we know are still in acquisition phase throughout the Geelong region, as it continues to provide significant growth and opportunity.

“The property is surrounded by incredible amenities, with the Waurn Ponds Shopping Centre and Homemaker Centre, as well as Epworth Hospital Waurn Ponds, Deakin University and Geelong CBD, all just a short drive away,” Mr Nanni said

Colliers sales executive Ben Young said that this prime location was one of the key considerations for Levande when purchasing the property.

“Levande has been acquiring a number of key sites around Australia, with the aim of not only growing but also investing in and refurbishing its portfolio of assets,” Mr Young said.

“The site fits the mould of their growth strategy, looking to acquire assets in prime locations to fulfil the growing demand for high quality retirement living.”

Geelong’s popularity for residential and commercial growth has far surpassed the original Covid surge that saw an exodus from the metropolis.

The continuing population shift out of Melbourne to dynamic regional centres like Geelong, along with residential lifestyle hubs on the Bellarine, Surf Coast and Golden Plains, hammers home the desire people have to move to our region as a lifestyle choice.

Highton is now also a hotspot and is is undergoing a transformation, offering diverse housing options, impressive community infrastructure, and job opportunities.

The growing demand in this region is highlighted by an influx in infrastructure investment, with the largest industries including healthcare, retail and construction calling Geelong home.