Armstrong Creek super site offers growth options in Village position
More than 1.67ha of prime commercial land opposite The Village Warralily shopping centre in Armstrong Creek is on the market.
Fitzroys agents Chris James, David Bourke and Shawn Luo are marketing the three properties in one of the state’s fastest-growing suburbs.
The lots 13, 14 and 15 Central Boulevard are zoned Commercial 1 and are offered separately or in line and respectively total 4000sq m, 4733sq m and 8004sq m, for a combined 16,737sq m.
The properties are expected to realise around $9 million through the expressions of interest campaign closing on May 26.
The Village Warralily shopping centre was the suburb’s first, anchored by a full-line Woolworths supermarket and BWS, with speciality stores, and separate McDonalds and 7-Eleven outlets.
Construction has also started on an Aldi supermarket on land opposite on Central Boulevard.
The commercial precinct is also surrounded by two schools, a childcare centre and community hub.
The properties sit between the Warralily and Carter Place residential developments.
Mr James said Armstrong Creek growth area is one of Victoria’s fastest growing suburbs with an annual growth rate of 7.25 per cent, according to demographers forecast.id, and has a projected population of more than 60,000-plus once fully developed.
“Armstrong Creek is expected to accommodate the bulk of growth in the Geelong region,
which has attracted Melburnians and Victorians as flexible working arrangements become
more accepted and offers relative housing affordability, while the ongoing enhancement of
rail and road network, new lifestyle amenity and major developments in the Geelong city
centre have also played major roles,” he said.
The region has attracted investment from national, listed and private groups, and continues to be a focus at both state and local government levels, he said.
The first stage of the $1 billion, 40ha Armstrong Creek Town Centre opened last September.
Developed by national company Wel. Co, it was recently sold to ASX-listed Home Consortium’s Daily Needs Trust for $55.6 million.
Mr Luo said the site has excellent exposure to more than 23,000 vehicles a day along Barwon Heads Road, according to VicRoads, and is located 15 minutes from Geelong’s city centre, and near Barwon Heads and Torquay.
The state government is planning for a new Armstrong Creek train station, while City of Greater Geelong is spending an additional $47m in coming years in Armstrong Creek on road upgrades and other critical infrastructure.