Why developers have eyes on another Geelong city church site
Another Geelong church is in the sights of property developers after hitting the market this week.
The Latrobe Terrace Church of Christ at 275-279 Latrobe Tce, Geelong, has been listed with sale with Geelong commercial agents Colliers appointed to handle the expressions of interest campaign.
The property could attract a circa $5m value through the campaign, which comes after the state government this week revealed the final Central Geelong Framework Plan, guiding the future development of the city centre.
The church occupies a 2618sq m land area with more than 100m of street frontage to Latrobe Tce and Lt Myers St.
Mr Young said the property offers enormous development potential, subject to planning approval, with the car park and lawn area offering a blank canvas at the main corner of the site.
Mr Young said several developers had already made inquiries about the property this week.
“We’re targeting developers that can use the vacant land to put some sort of high rise apartments on the property,” he said.
“That’s going to be the best fit. And from there, they can reconfigure the church whether it’s for a house, whether it’s for an office.
“There is in excess of 1500sq m of vacant land as you see it today with frontage to, or access from Little Myers St.
“It is definitely a great opportunity for someone to do some low-rise apartment buildings.”
The framework plan has moved the goalposts a little for what could be achieved on the site, with the former residential growth zoning to be replaced with a more wide-ranging activity centre zone.
The church sits within the West Village precinct at the southwest corner of central Geelong, where the framework recommends prioritising residential and accommodation uses, including facilitating accommodation for domestic, interstate and international students.
The framework outlines the precinct has great potential as a growing residential community with jobs and services within its boundary.
It sets a 21m preferred building height, which would allow for six-storey buildings, but outlines setbacks of between 6m on Latrobe Tce and 3m of Lt Myers St.
Expressions of interest close on April 4 at 2pm.