Lara site to unlock growth opportunities

A LARA family that’s owned a 1.4ha development site for decades is hoping to unlock its potential to capitalise on urban growth west of the town.

The site comprises five titles and seven existing dwellings close to Lara’s Six Ways shopping centre.

Ray White, Lara agents Terry Cleary and Jo Boothroyd have listed the property, addressed as Lots 1-5 Kees Rd, Lara, as a prime development opportunity. Price hopes are from $4 million to $4.4 million.

Ms Boothroyd said the general residential zoning would allow buyers to contemplate a townhouse development, aged care, medical surgery and even a childcare centre.

Ms Boothroyd said four lots were unencumbered, but the largest contained a former quarry which required remediation.

“We’re finding is the inquiry from developers, people wanting to move into the area, to complement the airport or build childcare centres for the growth or a doctors’ surgery.

“There’s also a massive shortage of smaller type homes for downsizers and the elderly,” she said.

The property has an existing income of more than $60,000 from the six flats and separate house, and two road frontages create high traffic exposure to the wedge shaped parcel of land between Kees Rd and Forest Rd North.

Lara is one of Geelong’s biggest growth areas, with several massive residential estates set to come online in the Lara West growth area, which will make this property more central in Lara. Offers close October 12 at 4pm. Lots 1-5 Kees Rd and Forest Rd, Lara.