VIC Seagrove Estate, Phillip Island

From what I've been told by local agents (haven't looked too deeply into it myself) anything south of Ventnor Rd isn't zoned correctly for development leaving only 2 main areas of land that can currently be developed. One is owned by a family and from all reports have no real interest in selling there land and the other is the golf course.
The golf course has had discussions about it but what they're asking is a long way above what a developer could pay and still make a profit. That being said with land prices rising and in 2 years once current developments are finished they would have a monopoly on new land and may be able to ask massively inflated prices.

 

Hi

Thanks for your info/input.

Just did a quick search and found the acreage south of Ventnor Road comes in as a "Farming Zone", my target address was 85 Ventnor Road Cowes but it seems most of the south side of Ventnor Road is similar zoning.

The other parcel of land that is owned by a family that you refer to, is it the massive empty land north of Settlement Road about 1km to the west of the main street of Cowes just before the Shoalhaven estate pops up on the other side?

Regards,

alicudi

 

Hi

UPDATE: now the Shoalhaven estate has 13 blocks available (6 blocks still remain sold from this release).

Regards,

alicudi

 

Had a look at these on the weekend when we were down. The developer has purchased the old St Paul's Home for Boys at Newhaven and subdivided the rear of the land into residential blocks (the old home is Heritage Listed, and is very creepy). So not so sure you want to be backing onto an abandoned old church, living areas, numerous other run-down buildings plus what I think were a couple of solitary confinement cells for the really badly behaved boys! And I wouldn't be surprised if there are a few unhappy spirits hanging around there still!!!

Also not much of a beach there (but nice quiet area and close to the boat ramp and sailing club).

Anyway each to their own and best of luck to the selling agent!!!

 

What are your thoughts on San Remo?
@Hamster @alicudi @strongy1986

With the land in Cowes increasing in price and the new haven blocks at over $350k (potentially) blocks in San Remo with potential views and 15 minutes closer to Melbourne at around $300 are looking like a good deal.

The main downside I'd see is only having an IGA as opposed to having Coles/Safeway/Aldi in Cowes

 

Hi

I absolutely love San Remo and if it were going to be 100% as a holiday house for me I may have chosen it over Cowes as to me it seems a little higher quality, but as an area to live in Cowes won the choice clearly due to the extra things like the choices of supermarkets.

All of the blocks in San Remo such as the Penniwells area are very costly to build on due to the slope and characteristics of the land and one of the reasons I chose this part of Victoria was to also keep to a particular budget to still allow for other investment opportunities in the very short term so what was looking like a $400,000 to $450,000 total cost for land and build in Cowes would easily become $600,000 in San Remo based on $300,000 for land and $300,000 for the build.

San Remo also looked like a bit of a sleepy area compared to Cowes on my couple of visits during 2017. As an investment, I think that San Remo could have much better capital growth this point on-wards as land in Cowes has doubled in some parts in the last 12 months and I don't see Cowes doubling in value again in the next 12 months.

Regards,

alicudi

 

few things to mention
Apparently developer of newhaven blocks believes can get a better price if they go to auction - so you won't be seeing any fire sale or cheap blocks, I think 9 have already sold for asking price
The boys home does have quite a chequered history and from what I have been told a few mysterious deaths. I also had someone tell me the other day that their friend went and took photos inside during an inspection they did and a 'spirit' appeared in the photograph - believe what you want I guess
I do like Newhaven as it' pretty quiet but if your that way inclined you can walk across the bridge to San Remo pubs or you can surf at Cape woolamai and it has the sailing club. So I think it' an ideal spot but I can also see why it probably wouldn' be that appealing to others who would preference schools, supermarkets etc
yes the properties south of ventnor road are definitely zoned rural. The council are currently trying to bully one of the owners out of his 40 acre property , saying that they are going to compulsorily acquire it and he should accept $2mill or get nothing. The council are pretending they want to build a community hub which includes a swimming pool and saying they need the land for the benefit of the community. Funny this is that they already own 40 acres behind the landowners property and they haven't done anything with that!
my thinking is that their scheme is to develop their own housing estate and use the funds to build the pool / community hub (whatever that is?)

On San Remo, havat looked into it but anecdotally I think it may have outperformed everywhere on the island in the past 5 years
it used to be really cheap but not anymore

 

We also went and looked at Penniwells and as @alicudi has mentioned the land is very steep and will be pricey to build on. I would also hazard a guess that San Remo prices have increased a bit artificially as there appear to be a number of new expensive (read huge) properties in the newer areas (behind the main strip) compared to the Island. Also looking at Penniwells there are potential for water views, but I'm not sure on the beach quality or access (we didn't venture out for a walk), and I'd suggest you'd get a fair bit of weather coming off the ocean...
We're still happy with our spot in Cowes, we can walk to the beach and Anderson Street boat ramp and the main shopping strip has it's own quirky charm (albeit no pub).

 

North Pier (the old continental) would classify as a pub
has had a bit of a facelift and has been pretty busy
you may have missed this as it' not somewhere most people would drive often?

 

@strongy1986 That's interesting about the 40acres, seems a bit odd especially if they own 40 acres right next to it, is it possible that they'd want the land for a new golf course then develop the old one? Or is that a privately owned thing?

I think they'd be opening a can of worms allowing development south of Ventnor road. The main road/bridge is getting busier and busier and I think they really need to make it dual lane before they start changing zoning, but I can't see that happening anytime soon.

 

They shouldn't have burnt their old pub down! Hopefully something is done with that land soon

 

Hi

Took the words right out of my mouth. My primary concern is the council should take into consideration that a hospital is required on the island and they should attend to this issue BEFORE rezoning any existing farm land(s) into residential.

I would also like to see a second bridge created between Phillip Island and San Remo or if that is out of the budget at least create a ferry that can carry cars to say Stony Point.

Regards,

alicudi

 

A Ferry is on the cards but I can't really see it easing traffic only attracting more tourists as a day trip would be more achievable from more locations

 

council sold the 80 acres to the landowner in the 90s and bought 40 back
now they want the other 40 even though they haven't done anything with what they have.
don't think councils interested in building golf courses.

 

they used to have a hospital but was closed by labour Gov about 10 years ago
car ferry is going to be $60 so not really of much use for locals/ frequent users
duplicating the lanes on phillip island road would be far more effective than building a second bridge I would of thought (could be wrong)

 

Hi

To Strongy1986: Can you tell me the exact location of the 80 acres that you refer to?

Perhaps it was a smart idea at the time that labour closed the hospital 10 years ago so now a new and much bigger hospital can be built. The population has increased somewhat due to the new estates and the health of the residents needs to be considered. I can only see the population of the island continue to increase as I also notice the population in Wonthaggi where the closest hospital is located also increase, how long will it be till the capacity of the Wontaggi hospital reaches its limit?

A secondary vehicle access has to be created, relying on the single bridge is nuts in my opinion...touch wood should something break, become unsafe where it is out of use for a year or two or even require replacement. Building a second bridge now would allow for the existing bridge to offer traffic coming into the island and the second bridge as a dedicated exit to the island.

Alternatively if a car ferry was created between Cowes and Stony Point it would create a fantastic link between Great Ocean Road and Phillip Island that could be promoted as a Torquay - Ferry - Sorrento - Ferry - Phillip Island family drive or in my case an exotic supercar drive!

Regards,

alicudi

 

I don't think they're interested in building golf courses either but if it means they can sell the current golf course for development and make $20m+ they might become interested

 

Hi

After looking at google earth, this wouldn't surprise me as the part of the golf course that is north of Settlement Road seems very ideal for residential development. But it seems that the part of the golf course that is on the south side of Settlement Road is very close to where the water inlet that comes in from Westernport Bay is and "MAY" have some very low lying land and/or flooding issues?

Regards,

alicudi

 

Cheers, haven't tried North Pier will give it a go next time we are down.

 

Permanent residents are fighting very hard to sink this idea though!