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PROSPECTUS – DEVLINS ROAD, OCEAN GROVE, VICTORIA

May 27, 2019

With Melbourne property prices having gone through the roof, residents are looking for more affordable areas to live that offer a good lifestyle and amenities whilst still having easy accessibility to employment.

Greater Geelong has been a major recipient of this migration, especially Ocean Grove which is attracting all age groups from young families through to retirees.

There is a strong Economic Growth and Structure Plan in place to make this area both maintainable and sustainable for this population growth.

The amount of habitable, vacant land is diminishing quickly in the 3226 postcode which is home to the iconic Ocean Grove Surf Beach. With increased demand and reducing supply in this finite area, we are seeing strong capital growth now which should continue well into the future.

There is a small window of opportunity to capitalise on the investment potential of the Devlins Road Town-homes that have been specifically designed to cater to the most discerning owner-occupier whilst having all of the features of a great investment.

Now is the time to secure a piece of paradise and have someone pay it off for when you are ready to have a home by the beach.

98 – 100 Devlins Road, OCEAN GROVE

$599,999 – FIXED PRICE -TURN KEY (tenant ready)

High Spec, freehold town-homes in the beautiful coastline area of Ocean Grove.  Located in Oakdene Estate – a master planned development within an established community that suits young families through to baby boomer retirees.  The estate is only 3kms from the beach and convenient to the Bellarine Highway.

Highlights:

  • Great position directly opposite Devlin Park and very close to Kingston Village shopping precinct that is currently under construction
  • Hi-spec inclusions: 9-Foot ceilings downstairs, 8 ½ upstairs, 900mm appliances, 60mmx60mm tiles, stone bench tops
  • Low maintenance: stress-free home with synthetic turf and storage shed
  • Own it quickly: land titles are with the council and are expected any day
  • Strategically designed: offers privacy and comfort
    • Downstairs: Master bedroom with ensuite. Powder room.

Upstairs: 2nd and 3rd bedrooms. Rumpus/media room. Study nook.

Quality Inclusions

  • Water connection to fridge
  • 900mm Stainless Steel oven
  • 900mm Ceramic Cook Top
  • Soft-close cabinetry
  • Ducted heating
  • Air-conditioning to the living room and master bedroom (Ducted upgrade $2200)
  • 5mm Timber looking vinyl planking throughout main area
  • 600mm x 600mm Rectified Porcelain Tiles to wet areas
  • 20mm Techni Stone bench-tops throughout
  • Semi-frame-less shower screens
  • Roller block-out blinds throughout
  • Solar with Gas-Boost hot water system
  • Built in robes

Floor Plan

 

 

 

 

 

Site Location

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Valuation

Market Value – as if complete

 

 

 

 

 

 

 

 

 

Valuation of similar properties in the area

 

 

 

 

 

 

 

Rental Valuations

 

 

 

 

 

 

 


Oakdene Estate, Ocean Grove

 

 

 

Oakdene Estate is an established community in the heart of Ocean Grove and is located just moments from the beach and surrounded by the stunning and vibrant Bellarine Peninsula.

Every aspect of Oakdene Estate has been thoughtfully considered and carefully planned. Conservation and environmental protection is a priority, together with building design and sustainability creating a better living environment for residents.

Perfect for families, the kids will enjoy hours of fun on the estate playgrounds. A football and cricket ground is also coming soon to Oakdene Estate. The estate is also just a short distance to the Oakdene Vineyards.  In celebration of the history and heritage of the area, Oakdene Estate also uses famous local shipwrecks to name each of its tree lined streets.


Oakdene Estate, Ocean Grove

 

 

 

 

 


Oakdene Estate, Ocean Grove – Master Plan


Shopping

Kingston Village Shopping Centre – Under Construction

 

 

 

 

 

 

 

The major tenants at the Kingston Village will include, Woolworths, Aldi, Dan Murphy’s, Jetts 24hr Fitness, Direct Chemist Outlet, a medical centre, McDonalds and Caltex.



Ocean Grove, Victoria

The Ocean Grove Structure Plan

The Ocean Grove Structure Plan is being used by The City of Geelong as a framework for the development and growth of the town.

Key Influences such as Urban Growth, Settlement and Housing, Infrastructure, Natural Environment, Economic Development and Employment and Rural Areas are all factors that this plan has taken into consideration.

The Vision for Ocean Grove in the year 2015 was:

Ocean Grove is a major town offering a range of lifestyles, culture and natural assets. While it is a designated growth town, Ocean Grove will retain its coastal urban character and protect and promote the attributes of the natural environment.  As an integral part of the Bellarine Peninsula, Ocean Grove shares the attributes of other towns, the rural sector and our natural environment.  Active community participation is encouraged to maintain all these linkages and attributes.

 The Structure Plan directions have the aim that by 2030 Ocean Grove will be a sustainable sized community with:

  • A distinctive character, making it a desirable place to live, visit and work.
  • An excellent range of retail and commercial services and employment opportunities.
  • A reputation for providing a broad range of environmentally sensitive coastal and rural based tourist activities and accommodation, associated with the beach and wetlands, arts, food and wine.
  • A mix of housing choices for all residents which apply energy and water conservation principles.
  • A built form which creates an attractive and unique coastal character.
  • A successful and viable Town Centre which is attractive and vibrant with ample parking, a good mix of activities and convenient pedestrian access.
  • Appropriate community and social services and social services and infrastructure which meet community needs.
  • A coastal environment which is highly valued,accessible and managed in a manner in a manner that enhances and protects environmental, landscape and habitat values.
  • An interconnect environment with safe and attractive pedestrian/bicycle and open space linkages, attractive streetscapes and a functional road network serviced by a local public bus service.

Locality Plan, Ocean Grove

Ocean Grove is identified as a district town in the Greater Geelong Planning Scheme through the State Planning Policy Framework. District towns play an important role in supporting and building on planned growth and providing for community needs. Other district towns in the region include the towns of Drysdale-Clifton Springs and Leopold. St Leonards also provides for growth, but it is not identified as a district town.

 

The town has a dual role as a coastal town and a tourist destination and contributes to a unique collection of small towns in the Bellarine Peninsula. It provides a range of facilities for both residents and visitors which supports its dual role. These include a vibrant town centre, sport and recreation facilities, tourist accommodation and coastal assets. Whilst the town is identified for urban growth in the Greater Geelong Planning Scheme, there is also emphasis on protecting its coastal character.

Ocean Grove’s current role and its growth trend are clearly illustrated in its population forecasts. The total resident population in 2011 was 12,573 people. The population in 2001 was 10,391 and in 2006 was 11,271. Between the period of 2001 and 2011, the population grew by 2,182. It is estimated the population will grow to 16,000 + by 2030.


Zoning Plan – Ocean Grove

The town is constrained by natural features to the south, east and west. The southern boundary is formed by the coast with locally significant vegetation and Bass Strait. To the west is the Barwon River and Barwon Heads beyond; and to the east are the Lake Victoria wetlands. The northern boundary of the town abuts rural land and the Ocean Grove Nature Reserve. The topography is gently undulating in the northern areas to steeply sloping within the town, closer to the foreshore and the natural dunes formation underlying. There are limited views to all of these features but some clear sea views centrally from the corner of Tuckfield Street and The Parade.

The settlement boundary is drawn tightly around existing land uses in Ocean Grove including the north-east growth area, east of Grubb Road. Within the settlement boundary, a range of zones have been applied to reflect the various land uses. Outside of the settlement boundary, the Farming Zone (FZ) prevails as the main land use zone. The primary General Residential Zone areas are located east of Grubb Road, north of Shell Road and south of Thacker Street. Land east of Grubb Road, within the north-east growth area, is being subdivided in a staged manner at typical suburban densities. The growth area also includes Commercial 1 and Commercial 2 Zone land, which is identified for a neighbourhood activity centre and restricted retail. To the north of Shell Road there are a range of land uses including General Residential Zone, Public Park and Recreation Zone (PPRZ), Commercial 1 Zone (C1Z) in the form of the Ocean Grove Marketplace neighbourhood activity centre and Rural Living Zone at Trethowan Avenue.

To the north of Thacker Street, there are a range of urban edge treatments, including the  Low Density Residential Zone (LDRZ), Rural Living Zone (RLZ) and Special Use Zone (SUZ), which provide a transition to the Farming Zone. Also, to the east between Shell Road and Bonnyvale Road another Low Density Residential Zone forms part of the town edge.


Area Profile

  • The size of Ocean Grove Grove is approximately 18.5 sqaure kilometres.
  • It has 13 parks covering nearly 6.2% of total area.
  • The population of Ocean Grove in 2011 was 12,555 people.
  • By 2016 the population was 14,161 showing a population growth of 12.8% in the area during that time.
  • The predominant age group in Ocean Grove is 0-9 years.
  • Households in Ocean Grove are primarily couples with children and are likely to be repaying $1800 -$2399 per month on mortgage repayments.
  • In general, people in Ocean Grove work in a professional occupation.
  • In 2011, 75.8% of the homes in Ocean Grove were owner-occupied compared with 76.1% in 2016.
  • Currently the median sales price of houses in the area is $695,000.

Median Sales Price

  Year 2014 Year 2015 Year 2016 Year 2017 Year 2018
Period Median Price Median Price Median Price Median Price Median Price
January $462,500 $510,000 $505,000 $565,000 $645,000
 February $483,175 $497,500 $512,500 $565,000 $647,000
March $488,750 $492,500 $520,000 $568,750 $650,000
April $500,000 $491,750 $520,000 $570,000 $665,500
May $500,875 $490,500 $527,250 $575,125 $673,000
June $500,000 $500,000 $530,000 $590,000 $675,000
July $500,000 $500,000 $535,000 $589,500 $685,000
August $500,000 $500,000 $536,000 $595,000 $685,000
September $505,000 $505,000 $535,000 $601,300 $685,000
October $505,000 $510,000 $549,000 $610,000 $685,000
November $500,000 $516,000 $552,500 $620,000 $690,500
December $510,000 $508,000 $560,000 $637,500 $695,000


Area Information

Ocean Grove is located on the Bellarine Peninsula and is a bustling commercial and holiday centre.  Being the largest town outside Geelong on Bellarine Peninsula it offers a wide selection of shopping facilities including major supermarkets, restaurants, cafes and specialty shops.  Coastal attractions include surf beaches, walking tracks, native gardens.  The Barwon River offers sheltered swimming and sandy shorelines and boat ramp access.  This area offers a beach lifestyle combined with tempting treats from local gourmet food and wine producers.

With so many things to do, see and taste living here feels like a holiday all year round.  There is something for everyone – beaches, sports, adventure activities, events and festivals, food and wine and plenty of family fun.

Transport

The Bellarine Highway is the major road link, running east from Geelong though the middle of the peninsula to Queenscliff.

As well as major road access there are local bus and taxi services and Avalon Airport is a 50minute drive from Ocean Grove and operates over 100 Jetstar passenger flights each week

Education

Nearby Schools:

Our Lady Star of the Sea Primary School
Surfside Primary School
Ocean Grove Primary School
Barwon Heads Primary School
Wallington Primary School

Shopping

Ocean Grove has the largest shopping centre on the peninsula. Only a few blocks from the beach, it is popular with tourists and locals alike. In 2005 a newshopping centre was built in the Collendina area, allowing the locals to shop at both Coles and Safeway supermarkets.

The Kingston Village shopping centre is currently under construction to provide further services to the community.

Sports and Recreation

The town has an Australian Rules football team competing in the Bellarine Football League.

The Surfside Waves Soccer Club competes in the Geelong Regional Football Association.

Golfers play at the course of the Ocean Grove Golf Club on Guthridge Street.

Shell Road Complex offers indoor sports such as Volleyball, Basketball, Soccer, Basketball and Netball
There are also two tennis clubs with modern facilities – Ocean Grove Tennis Club – Madeley St and Surfside Tennis Club – Shell Road (next to the new aquatic and sports centre).

Health Services

Good access to GP Services

Access to major hospitals in Geelong – including The University Hospital, Geelong Private, St John of God Hospital, Epworth Geelong.

The 2019 Federal Budget has also included plans for local investment in:

  • $50 million for a new Women’s and Children’s Hospital (Geelong)
  • A new paediatric emergency department at Geelong University Hospital
  • $4 million for a new Ocean Grove Health Hub and headspace.

Household Structure, Ocean Grove

 

 

 

 

 

 

Household Occupancy

 

 

 

 

 

 

Household Income

 

 

 

 

 

 


City of Greater Geelong, Victoria

Geelong is located 75km southwest of Melbourne and is a thriving progressive community and offers a high standard of living and a spectacular coastal environment.

Geelong is evolving from its traditional manufacturing base and expanding into a ‘new economy’ city with a broad range of industries and a growing population.  The city is no longer relying on manufacturing and is now boasting major capabilities in high-tech and knowledge-based sectors, such as health, research, biotechnology and education, employing a workforce of more than 100,000 (130,000 people in the broader region).

With an approximate population of 221,000 in Greater Geelong, this figure is expected to pass 400,000 by 2031 and 500,000 by 2050.  This region is the fastest-growing population centre regional Victoria.

The region has a range of economic drivers including:

  • Strong tertiary education and research sectors
  • Close proximity to internal air and seaports
  • Extremely well-established road, rail, sea and air transport links
  • Ready access to major regional markets within Victoria, as well as interstate and export markets.

The new G21 Regional Growth Plan identifies land to accommodate 80,000 new jobs by 2050 and the region’s demographic profile continues to shift and diversify.


Economy

Geelong is home to more than 16,000 businesses and produces a Gross Regional Product estimated $11.003 billion.

Geelong has recently undergone significant transitioning from manufacturing towards high-tech and knowledge industries, secured by numerous world-class tertiary institutions and globally recognised research facilities.

Geelong offers more than 40 tertiary and further education facilities delivering industry-specific training.

Primary industries in the city include health and community (16 per cent of workforce), retail (14.4 per cent), manufacturing (13 per cent), education (10.8 per cent) and construction (6.8 per cent).

Unemployment is trending downwards, falling to 5.2 per cent this year as nearly 20,000 new jobs were created in the region*. (*source: Australian Bureau of Statistics)

More than $1.2 billion worth of major construction and redevelopment is currently underway in Geelong, with another $700 million of projects announced and awaiting commencement, and $21.2 billion worth of works on the drawing board. Current development of the Geelong Ring Road will provide an uninterrupted route to Torquay and the Great Ocean Road.


Some of the Recently Completed and Underway Projects:

$235m upgrade of the Geelong Ring Road

$80m Melbourne to Geelong Pipeline

$67m St John of God Geelong Hospital redevelopment

$277m Epworth Geelong Private Hospital

$15.6m Emergency Services Facility

$9m Barwon Health Outpatients building

$52m Deakin Regional Community Health Hub (REACH)

$123m Geelong Hospital upgrade

$60m Little Creatures Brewery

$100m Aldi Supermarkets

$33m Bunnings megastore

$13m Deakin University upgrade

$40m redevelopment of Deakin University’s Geelong Waterfront Campus

$55m Centre for Advanced Design in Engineering Training (CADET)

$20m Western Heights College redevelopment

$55m Waurn Ponds Shopping Centre expansion

$5.2m Waurn Ponds Library

$45m Geelong Library and Heritage Centre

$49m Simonds Stadium redevelopment

$9.5m Ocean Grove Integrated Children’s Centre (Boorai Centre)

$90m Baanip Boulevard project

$90m Malop Street office tower


Transport Infrastructure

Geelong enjoys a strategic location at the hub of a road, rail, air and sea transport network comprising:

  • The six-lane Princes Freeway links Geelong and Melbourne, a 55-minute journey, and Melbourne International Airport (50 minutes)
  • Highway links to other regional centres include Colac (55 minutes), Ballarat (60 minutes), Bendigo (2.5 hours) and Hamilton
  • The Pacific National Rail Network, a freight rail line network covering Victoria and interstate
  • V/line passenger rail to Melbourne (less than 60 minutes), intrastate and interstate
  • Due to the success of the Portarlington/Docklands ferry a Geelong to Melbourne ferry is due commence a 3 year trial in early 2019
  • Avalon Airport is 18km from Geelong and operates more than 130 Jetstar passenger flights each week, as well as airfreight.

Less than an hour from Melbourne, Greater Geelong offers a range of idyllic lifestyle options. Inner city, coastal, suburban, rural or bay side, there’s something for everyone. It enjoys all the advantages of cosmopolitan city living without the congestion, and a wide mix of attractions from natural bush to spectacular surf beaches, historic townships to cosmopolitan shopping precincts.

Sport, leisure and cultural pursuits abound, while education and health options are plentiful and world-class. And, as you’d expect in such a vibrant region, employment prospects are many and varied.

Regards
John

 

 

 

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