An opportunity exists to develop approximately 64 half acre blocks, subject to council approval.
GO FOR a nice drive, on a nice day to find a nice spot on a gently undulating hill with a must-have panoramic bay view approximately 75 minutes from Melbourne.
Coronet Bay is one of the very few places that qualifies says the vendor who drove for two years every weekend to find such a nice spot.
The Pakenham-Koo Wee Rup bypass is on schedule to be completed which will shorten the travel time by heaps, making this 50 acre site at 386 Agar Road easy commuting distance to Melbourne to see a show or the footy or attend a party or see friends and relatives in Melbourne.
Also going the other way is Phillip Island, famous for its beautiful long sandy beaches and surfing, the MotoGP, the V8 Supercars, the Superbikes, the vintage and classic cars, the Woolamai Picnic Races, the international restaurants and bars and the wild coastal safe walking, bike and horse riding tracks and trails.
Just metres down Cutty Sark Road is the well-stocked local shop with deli, bait, fuel and liquor license almost opposite the very safe, sheltered, sandy swimming beach with small boat launching ramp where fish are still plentiful too.
All of the above are great points for the developer who wants to build the road, etc, and develop approximately 64 half acre blocks and make some real money STCA.
It’s a smashing site with stunning blue bay views to Phillip Island, French Island and Hastings with loads of potential.
It has some lovely, large magnificent feature trees, a visual experience and environment on three or four very special allotments which will bring a premium price as they have privacy and bay views too.
At dawn the rising sun shines directly on to the San Remo/Phillip Island Bridge and almost lights it up some mornings and the sunsets in the evening are panoramic full sky scapes.
This 50 acre paddock is expected to be a quality project. It’s zoned rural-residential and should yield 64 blocks and as per the draft plan (STCA), each block could sell for over $200,000 bringing in over $12 million approx.
Mains water, sewerage, SEC and phone are all adjacent. The draft plan needs the engineering to be done to finalise it.
The expected price range is $1.3 million-plus for the property which is set for auction on Saturday, October 25 at 2pm on site; Lot 1, 386 Agar Road, Coronet Bay.
Terms are 10 per cent deposit with the balance in 90 days.
For more details, phone agents Russ Williams on 0407 343 368 or Lynn Pendergast on 0458 780 023 or the Alex Scott & Staff Grantville office on 5678 8433.