Out With The Old at Phillip Island

THE owners of a 26-hectare Phillip Island farm, until three years ago owned by AMP Capital Investors and earmarked to become a retirement village, have applied to Bass Coast Shire Council to remove the entire aged-care component of the proposal.

The owner of the site paid AMP a reported $8 million for the Ventnor Road block and a permit for a 184-lot residential subdivision.

A major aged-care complex and community facilities were required to be developed as part of that permit. However, the council will now decide on whether to issue a new permit resulting in the entire farm, about three kilometres south-west of the centre of Cowes, being subdivided into 304 standard residential lots.

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Moller’s Caravan Park, Inverloch, Sells to Developers For $6 Million

A developer is understood to have paid close to $6 million for the Moller’s Caravan Park in the coastal hamlet of Inverloch, about 145 kilometres south-east of the city.
 
The approximate 9,000 square metre waterfront property, with four street frontages, is speculated will be developed into a medium-density apartment project, flanked by ground floor retail, and possibly some serviced apartments.
 
Stockdale & Leggo Inverloch agent Judy Robertson, who marketed the site with Patrick Barry, confirmed a sale negotiation was underway, but declined to elaborate on buyer or price. The caravan park first came onto the market last year with an $8 million price tag.

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