While the Geelong property market has exploded in the past decade, it has been easy to envy those who have been ahead of the game, predicted growth and bought in the right area at the right time.
Well, this is your opportunity to invest and reap the long-term benefits – and you don’t need a crystal ball.
Situated just minutes from central Geelong, this Newcomb property sits in the heart of the closest undeveloped area to the city but it won’t stay that way for long. With bay views, easy access to the Bellarine Peninsula and ample growth potential, Newcomb is bubbling away like Port Melbourne was to Melbourne city 30 years go. Growth potential aside, the property itself has plenty to offer. An East Geelong-style character home that stands out among its neighbours, it features three bedrooms across two levels all with built-in robes while the master has a semi ensuite including corner spa.
The timber kitchen has a dishwasher, stainless steel cooktop and oven, plenty of storage space and flows onto a formal meals area. Other property features include: paved BBQ area, double rear garage with workshop, study area, plenty of storage, sunroom, large laundry and excellent gardens.
But the opportunity this property presents truly lies in the location. With main road exposure it is ideal for a business overlay (STCA) for a home based business or clinic. Everything from medical, dentist and podiatry to massage and remedial therapy, would perfectly suit this high exposure. You would also have ample off-street parking at the rear with the generous 790m2 approximate block size.
This really is the perfect home for a young investor/builder looking to develop with an expansive rear yard and direct street access. There is also the potential if council approved to knock down the old home and develop multiple dwellings.
A unique factor when considering this property is the salt plains directly across the road. History tells us that development will occur in the future once the real estate values rise to a point that developing wetlands becomes affordable. This is a common theme in Australian suburbs that outgrow their use and end up gentrified.
If you are ready to invest in the Geelong region and looking for the next boom suburb that already has compound annual growth of 9.4%, don’t hesitate on this opportunity or you will miss the boat.
Contact Wes Thornton on 0419 315 727 for more information .
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Property Code: 35