Property Development

World Class Group lists permit-ready Lorne block

World Class Group lists permit-ready Lorne block
Written by The ReReport
As seen in the Source link, written by realestatesource.com.au on 2019-07-03 09:32:06

World Class Group is selling a waterfront site permit-ready to become a hotel, in Lorne, a holiday hamlet about 140 kilometres south-west of the Melbourne CBD.

The elevated 3480 square metre block at 14-16 Ocean Road South, Lorne, is expected to sell for more than $4 million.

The Victorian Civil and Administrative Tribunal only granted World Class Group permission to build the proposed hospitality complex three months ago.

Spread within two separate facilities, the venue would
contain 35 suites, configured with between one and three bedrooms.

It would abut two mid-rise hotels: Grand Pacific
Apartments and Point Grey Apartments. The Grand Pacific Hotel is also in the
immediate vicinity.

The site is opposite the Lorne Pier and Point Grey
precinct which is undergoing a $12. million redevelopment.

The Lorne town centre is about a kilometre away.

Artist’s impression of the 35-suite hotel approved in April to replace 14-16 Ocean Road South, Lorne.

Savills Benson Zhou, Mark Stafford and Rob Williamson are closing an expressions of interest campaign for 14-16 Ocean Road South on July 24.

The brokers said that more than 2.1 million visitors toured
the Surf Coast region in 2017 alone. By 2027, this number is expected to surge
to about 2.8 million.