Prime Lara development site has flexible options

A prime development site on the edge of one of Lara’s busiest housing estates offers buyers the flexibility to harness the town’s future growth.

The 2.195ha site at 151-155 Patullos Rd, Lara, has been listed for expressions of interest with offers closing November 14.

Industry sources said the property, which is opposite the Lara West growth area, was expected to fetch around $4 million.

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Cushman & Wakefield, Melbourne agents Peter Sagar and Paul Callanan are handling the campaign.

The property sits within the Dacland development Manzeene Village and offers the buyers a strategic holding earmarked for median density townhouse development, but with the potential for a commercial project, both subject to council approval.

151-155 Patullos Rd, Lara, is a site with potential for medium density or commercial development.

The agent’s information memorandum shows the property position within the Lara residential development zone was a key attribute.

First-home buyers purchasing within Manzeene Village can obtain the $20,000 regional first-home owners grant, and pay no stamp duty on properties valued under $600,000.

Manzeene Village was launched in 2015, with sales expected to finish in 2019.

The site is close to Lara’s central business district, with easy access to Geelong and the Princes Freeway.

This article from the Geelong Advertiser originally appeared as “Flexible future key to development site on Lara’s Manzeene Village”.