A vacant residential infill landholding in a highly desirable Geelong location has sold in excess of $20 million through the Colliers team of Chris Nanni and Ben Young. 

Well-serviced and connected by roads, rail and public transport the 47,108sqm site at 140-150 &  152-156 Colac Road and 246-248 South Valley Road in Highton, suited to multiple mixed-use and  residential development outcomes, was sold to retirement living provider Levande. 

“The campaign generated interest from local and national residential, aged care and retirement  living developers, many of whom we know are still in acquisition phase throughout the Geelong  region, as it continues to provide significant growth and opportunity,” Mr Nanni said.  

“The property is surrounded by incredible amenities, with the Waurn Ponds Shopping Centre and  Homemaker Centre, as well as Epworth Hospital Waurn Ponds, Deakin University and Geelong CBD,  all just a short drive away. This prime location was one of the key considerations for Levande when  purchasing the property,” Mr Young added.  

Levande has been acquiring a number of key sites around Australia, with the aim of not only  growing but also investing in and refurbishing its portfolio of assets. The site fits the mould of their  growth strategy, looking to acquire assets in prime locations to fulfil the growing demand for high quality retirement living.  

Geelong has benefited from a large population shift out of Melbourne and other regional towns seeking greater lifestyle opportunities. Highton is undergoing a transformation, offering diverse  housing options. 

Geelong’s growing demand is highlighted by an influx in infrastructure investment, with the largest  industries including healthcare, retail and construction.

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