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Warrnambool Residential Subdivision Site for Sale

By Phillip Lee

A residential subdivision site with a current planning permit in the Victorian coastal city of Warrnambool is offered for sale by tender through Ray White Commercial.

The Russell Creek Residential Estate is approximately 15.38ha and is situated at 154 Whites Road, Warrnambool. The site is being marketed by Phillip Lee of Ray White Commercial Ballarat.

Mr Lee said there had already been keen interest in the site, which is zoned for housing and has a planning permit for 139 lots from Warrnambool City Council.

“We have had interest from all over Australia, including Brisbane, Melbourne, Geelong and locally,” he said.

“There is a shortage of housing land in Warrnambool and this estate offers an opportunity to develop in the fastest growing economy and population centre in the Great South Coast.”

The site is located approximately 3.5km from the Warrnambool CBD and 2km from Gateway Plaza, Bunnings and Harvey Norman.

Mr Lee said the site was being offered for sale by a family investment company which is looking to sell the estate to focus on a larger subdivision project interstate.

“Russell Creek Residential Estate is a carefully planned development of 150 lots,” he said.

“Stage 1 comprising 11 lots fronting Whites Rd is already developed and is not included in the sale.

“The remaining 139 lots in the subdivision are held in one title with a current planning permit ready to develop.

“The vendor is prepared to assign the benefit of consultant works which have already been completed to the purchaser.”

Tenders close at 3pm on Friday, September 14, 2012.

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