Royal Freemasons Homes of Victoria has sold a prominent Armstrong Creek site held for five years.
At 45-67 Central Boulevard, on the corner of Carter Road, the 1.05 hectare parcel is trading for a speculated c$5.1 million to a Sydney developer in its maiden Victorian purchase.
Opposite The Village Wirralily Shopping Centre and Armstrong Creek East Community Hub – and walking distance to Armstrong Creek School – the land is expected to make way for a medium density housing project.
Royal Freemasons – which holds a substantial aged care portfolio including other Geelong-region assets – was represented by Gross Waddell ICR’s Alex Ham and Andrew Waddell with RT Edgar Bellarine’s Peter Molloy.
Armstrong Creek is midway – about 10 kilometres – between the Geelong CBD and Torquay.
Armstrong Creek humming
Armstrong Creek abuts the Surf Coast – the country’s fastest growing regional municipality since the pandemic, according to annualised population data issued by the Australian Bureau of Statistics in March, with a rise of 4.4 per cent; the City of Greater Geelong, where the suburb is gazetted, also performed strongly, increasing 1.8pc (story continues below).
REA Group puts Armstrong Creek’s median house price at $695,000 – a 20pc rise in 12 months.
Mr Ham said several leading builders contested for the Central Avenue parcel which was only listed in March.
Late last year, Oreana Property Group bought into the pocket, outlaying $7m for a 1.28ha parcel, also on Central Blvd, at the corner of Barwon Heads Rd, with plans for a bulky goods centre.
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