$16m-plus price hopes for mixed use land opposite shopping centre
The 4.96 Ha of mixed-use sites at 465 Surf Coast Highway, 1-19 Unity Drive and 2-20 Unity Drive, Mount Duneed, is offered for sale by expressions of interest.
A substantial property directly opposite Armstrong Creek Town Centre that’s slated for a mix of retail, residential and accommodation uses has been listed for sale.
The combined 49,631sq m landholding combines three sites zoned for mixed use where site services and planning is well advanced or completed.
Plans are already approved for a townhouse development, with a hotel, mixed use, residential and retail among the future uses earmarked for the site.
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Stonebridge Property Group and Colliers have been appointed to sell the properties fronting Surf Coast Highway and Unity Drive at Mount Duneed in an expressions of interest campaign closing April 9.
Price expectations for the combined properties are over $16m.
A permit and functional layout plan are approved for 43 townhouses across lots two and three of the site.
The site is directly opposite Armstrong Creek Town Centre, which has substantial room for future growth.
Further developer or public open space contribution payments aren’t required and a Cultural Heritage Management Plan has been completed, reducing upfront costs and streamlining development processes for new owners.
Tim McIntosh, Colliers’ national director for retail middle markets, said the 4.96ha holding offers a 420m frontage along the Surf Coast Highway, strategically positioned directly opposite the Armstrong Creek Town Centre with high exposure to 29,000 cars passing daily.
“With site services and planning already well advanced or completed, the development process is streamlined, significantly reducing upfront costs,” he said.
“These sites are perfectly positioned for residential, retail, and mixed-use development within one of Victoria’s fastest-growing corridors and represent an exceptional opportunity for developers and investors.”
Armstrong Creek Town Centre is directly opposite the mixed use sites, which have more than 420m of frontage to Surf Coast Highway.
The Armstrong Creek Town Centre features diverse national and international retailers directly.
Originally established with a Coles-anchored neighbourhood centre, it has since grown to incorporate fast food outlets, service centres, liquor stores, community facilities, and office spaces.
Further expansion is planned, with a Woolworths supermarket set to join the precinct alongside potential developments such as large-format retail, hardware stores, and mixed-use spaces.
Stonebridge Property Group’s national partner Julian White said Armstrong Creek and Mount Duneed are among the fastest-growing areas in regional Victoria.
The Armstrong Creek and Mount Duneed growth area on Geelong’s south is projected to reach a population of more than 100,000 by 2034.
“The rapid population growth, driven by new residential estates and major infrastructure projects, has created a thriving community with a strong demand for retail and commercial amenities,” he said.
“Investing in these mixed-use sites offers a unique opportunity to be part of this dynamic growth corridor,” Mr White said.
“The suburbs have attracted a range of amenities, including new schools, shopping centres, parks, and upgraded roads.
“Combined with greater affordability, these factors have fuelled strong demand. With ongoing residential developments, the population is set to continue expanding, further cementing the area’s status as a key growth corridor,” Mr White said.
