Does Apollo Bay need another 144 houses? The agent selling this 100-acre plot believes so

Apollo Bay could be set to host a 144-lot housing estate after 100 acres of land approved for development by Colac Otway Shire Council hit the market last week. 

What happened: The site, at 6230 and 6280 Great Ocean Road, received development approval in September 2023, meaning a future buyer could move ahead with subdivision soon after purchase. 

• The coastal town has a winter population of roughly 2,000 residents, but can reach up to 10-20,000 people through the peak summer months. 

Paperwork: While the permit allows for 144 lots, the land’s marketing suggests a buyer could seek approval for other developments such as a retirement village, land lease community or tourism accommodation.

Inside knowledge: Raine and Horne Land Victoria agent Kevin Paghdar said large development sites in Apollo Bay rarely became available because “the council is very protective of the green space”.

“So when you have limited availability of the stock, whatever is coming up, it's very high value,” he told the Brolga.

“Apollo Bay, Anglesea, Lorne, all of the towns which are waterfronts are very much in demand.”

Show me the money: The approved subdivision equated to about $160,000 to $170,000 per lot before construction, and closer to $600,000 to $700,000 for the final product ready for housing.

“It depends on the developer. A housing developer will develop a housing estate... say they want to develop a retirement village, multiple things can depend on what the developer wants to do,” Paghdar said, adding a land lease community with smaller lots was another possibility if approved by the council.

“These days, people don't always need 600 square metres. People are happy with 200 or 300 as well because it's cost effective.”

The site sits within the Apollo Bay Township Boundary and Structure Plan and has about 458 metres of frontage to the Great Ocean Road.