A parcel of land with substantial frontage to the busy Western Freeway just outside Ballarat is attracting keen interest from developers in the vicinity of $15million.

Caine Property’s Damian Caine and Colliers’ Andrew Lewis and James Lawson have been appointed to sell a 118,819sqm property across four titles on the Western Freeway, at the corner of Orchard Lane, in Warrenheip on behalf of a private family group. The property is being sold via an Expressions of Interest Campaign closing April 13, 2022.

“Recently re-zoned to Commercial 2 (CZ2), the property is a once in a lifetime development opportunity,” Mr Lewis said. “Since commencing the campaign two weeks ago, we have seen the property grab the attention of an array of buyers.

“We are fielding significant interest from developers as the current market in Ballarat progresses at a rapid rate and land is becoming harder and harder to obtain.

“The Ballarat market is currently going from strength to strength, in particular we have seen new industrial land rate records set in the past month. This momentum is being reflected in the initial stages of the sales campaign for this impressive site.”

The property is situated in a highly desirable location, just five minutes from the Ballarat CBD and close to BP Petrol Station, Shell Service Station, Oliver Real Food, Ballarat Provedore and Mill Markets.

Future population growth estimates for Ballarat are around 2.5%, positioning the regional city with excellent prospects.

“Ballarat is currently planning for three new residential growth areas aimed to increase the local population from 115,000 to more than 160,000 people,” Mr Caine said. “In build terms, this means more than 1,000 new houses per year.

“Ballarat fills a prizeworthy niche — we have an enviable location and lifestyle, outstanding facilities, a rapidly developing culinary offer and an established creative scene.”

To request a copy of the Information Memorandum please contact one of the marketing agents Caine Property’s Damian Caine and Colliers’ Andrew Lewis and James Lawson via the contact details below.