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There have been expressions of interest from potential buyers for the four properties located opposite the Western Freeway at the junction with Brewery Tap Road.
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The total area of the four properties is less than 12 hectares, 118,819 square meters and 657 meters of road frontage. The property is divided into two groups of owners and can be purchased separately or all.
As part of the two zoning commercial properties, they could eventually be used for a variety of uses, including large-scale retail and even shopping centers that would serve development areas on the city’s east side, such as Brown Hill.
The property is located in a key development area where the City of Ballarat and VicRoads are heavily involved in shaping the future of the district.
The council has released a master plan for the Woodmans Hill junction to guide future development in the area, while the motorway is scheduled to undergo a major overhaul at the intersection of Brewery Tap Road and Old Melbourne Road.
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The upgrade will remove the dangerous junction of the highway and Brewery Tap Road and Old Melbourne Road, while increasing the speed limit to 110 km/h on all routes.
The Department of Transportation has placed a government procurement layer in the area for further development, but to date the project has not received funding and detailed designs have not been developed.
“If you’re thinking of something like downtown Delacombe, this is something you can do there.” — Andrew Lewis
Other major companies are already in the water to begin development in the area, applying for permits to build a 119-room Holiday Inn hotel complex.
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Colliers International managing director Andrew Lewis has seen examples of similar developments in various parts of Ballarat, which may indicate the future the area could hold.
“If you’re thinking about something like downtown Delacombe, that’s something you can do there,” he said.
“It could be somewhere between the DTC and the development along Latrobe Street and Wiltshire Lane. That’s the type of development we envision. We could have car parks and car dealerships. You think about what’s going on in Learmont Road, Delacombe Town Center and Latrobe Street. check it out, it’s that kind of program.”
The property was previously used solely for agricultural purposes and was once an orchard for Wilson’s Fruit and Veg, the original store located where the former John Deere dealership now stands.
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Mr. Lewis estimated the site would sell for $15 million, well below the price per square foot of other properties in the city.
“The expected price is $15 million, or $125 per square meter. In our latest industrial sales, sales prices for industrial land in Ballarat ranged from $300, $400 and $555 per square metre,” he said.
“The price we are talking about is 25-30 percent of the current price of industrial land not affected by the western highway. It’s a big chunk of money, but it’s a pretty reasonable price given the potential and the risk.”
Lewis said the potential road upgrade would give the area direct access to the freeway instead of behind it as it is now.
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“It has been in the planning books for the last 20 years. We believe it is very close. We hope to renovate this intersection in the next 3-5 years,” he said.
“At this point, the existing westbound road becomes a service road for this area and provides excellent access to the south side. Right now it’s very visible, with a very good face, but it’s accessible from the back.
Grampians Department of Transport Regional Director Michael Bailey will provide public information on future development plans during the initial planning and survey of the Western Freeway upgrade at Old Melbourne Road and Brewery Tap Road.
“As we plan for the future, we continue to upgrade Ballarat’s road network to improve safety, improve traffic flow and keep pace with growth,” he said.
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In the future, we will work in consultation with the people to meet the needs of planning for the development of the area.”
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