Ocean Views hits the market

A MAJOR housing development described as “the last remaining opportunity of scale in Torquay” has just been announced.

Earlier this week, Core Projects released the Ocean Views project for sale via expressions of interest, and predicted the market for the site would be more than $70 million.

The 32.33 hectare site stretches from Grossmans Road and extends along Duffields Road towards Spring Creek and will have between 350 and 400 residential lots, subject to planning approval.

Core Projects is marketing Ocean Views as being positioned 250 metres away from Torquay’s town centre, offering future residents “an exceptional lifestyle opportunity” in “the most prestigious greenfield development in Victoria” with “stunning ocean views” and proximity to attractions such as the RACV Torquay Resort and golf club, Bells Beach and Four Pines Brewery.

The deal will be brokered by Trent Malcomson, Chris Jabs and Kane Malcomson of Core Project’s land team.

“Properties of this quality across Australia are incredibly rare,” Trent Malcomson said.

“Given the scale, ocean views, and ready-to-develop nature of the landholding, this property will be extremely well contested by both local and international development groups.”

Kane Malcomson said the team had fielded between 70 and 80 formal inquiries about Ocean Views in the first 24 hours.

“That’s pretty significant; that’s a lot in a short period.”

Core Projects formed in 2015 as the result of a merger between two Melbourne land sales and project marketing businesses.

The company’s land team transacted more than $700 million worth of land in late 2020 and early 2021 across Geelong and Melbourne’s growth corridors.

Expressions of interest close at 4pm on November 26.