One of Torquay’s last developable land lots has hit the market, with selling agents spruiking an opportunity for hundreds more residential properties.<\/p>\n
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.<\/p>\n
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.<\/p>\n
The property falls inside a final “future settlement area” outlined in the Surf Coast Distinctive Area and<\/p>\n
Landscape policy earlier this year, which stretches from Messmate Road to a Torquay North ridgeline.<\/p>\n
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.<\/p>\n
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”.<\/p>\n
“The total scarcity of available developable land has created vibrant conditions for the residential land market in Torquay,” the agent stated.<\/p>\n
“120 Messmate Road is ideally positioned to capitalise on these powerful economic trends well into the future.”<\/p>\n
Agents also pointed to its proximity to Torquay North Town Centre, and the future Torquay Community Hospital and Surf Coast Aquatic and Health Centre.<\/p>\n
Core Projects is accepting expressions of interest for the site until August 3.<\/p>\n","protected":false},"excerpt":{"rendered":"
ONE OF Torquay\u2019s last developable land lots has hit the market, with selling agents spruiking an opportunity for hundreds more residential properties. […]<\/p>\n