A Ballarat superlot has transacted to a local developer for $3,800,000, translating to $220/sqm.

The 1.73 Ha site is suited to a wide range of development outcomes, being allocated for medium density residential in the Ballarat West PSP. 

The sale was handled by Stonebridge Property Group’s Lucas Gentile, Julian White and Chao Zhang, in conjunction with the transaction advisory team at JACX Property on behalf of Churches of Christ. Mr. Gentile said, “we received interest for a variety of buyer profiles such as townhouse developers and builders, childcare/swim school developers and operators, as well as medical operators.”

Stonebridge stated it was a highly competitive campaign as they were able to leverage the very attractive location, being across the road to a future Coles Shopping Centre, 200 m* to a future primary school, and positioned on Ballarat-Carngham Road exposing the Property to a steady flow of passing traffic, ultimately enhancing interest and competitive tension in the process. 

Stonebridge National Partner, Julian White, commented on this saying “This is the fifth development site Stonebridge have transacted in September, properties in desirable locations with logical outcomes are continuing to be rewarded by the market.”

The Stonebridge specialist development sites team expect to see an increase in transactions leading up to the Christmas period, with a wide range of properties coming to market in both metro and growth corridor locations.

*Approximately