Rare foreshore frontage site to spark developer rush
An exceptionally rare opportunity to secure a development site with foreshore frontage on Victoria’s coastline has hit the market.
The centrally located site within the popular tourist town of Inverloch, 86km south-east of metro Melbourne, offers potential buyers the chance to create a sought-after mixed-use development just metres from the beach.
Currently the long-time home of Inverloch Marine, relocating in mid-2020, the significant site at spans 2522 sqm with 185m of frontage and is zoned to allow for three levels, plus basement.
A report by architects ClarkeHopkinsClarke indicates the site could accommodate a supermarket or retail strip, 55 apartments, 66 car parking spaces and an infinity pool.
It will be sold through expressions of interest and is expected to fetch around $3.5 million.
Burgess Rawson director Raoul Holderhead, who is marketing the property in conjunction with Glenn Bolam of Stockdale and Leggo in Inverloch, said it was “genuinely a once-in-a-lifetime opportunity”.
“True private freehold land with direct foreshore frontage very rarely comes onto the market,” Holderhead says.
“Victoria’s coastline is mostly road frontage or natural bush, but this is one of the very rare private properties located on the beach side of the road. I would suggest it is probably the only development site for sale between Western Port Bay and the eastern Victorian border that has foreshore frontage.”
“If you can show me another one then send me the address.”
Positioned opposite Inverloch’s two pubs, the iconic property has been owned and occupied by Inverloch Marine since 1991, but has a storied history dating back to the 1930s, when it was a local automotive garage and eventually a service station.
For decades a large part of the site hosted an amusement carnival over the summer months.
Located alongside a stunning stretch of public foreshore land known as The Glade, in recent years the marine business has attracted regular interest from developers seeking to purchase the site.
Holderhead says that with the owners finally choosing to sell, the opportunity to create something special has arrived.
“All that stands between you and the water is a small stretch of parkland and some trees. On the upper levels you’ll have ocean views out over the inlet and the ocean,” he says.
Inverloch remains one of Victoria’s most popular year-round tourist towns, with its population of almost 6000 more than quadrupling over the summer months.
Expressions of interest close at 4pm on Thursday, March 5.
Published by Real Commercial.