FOR SALE
$2,805,000 - $3,050,000

15-17 The Terrace
Ocean Grove VIC 3226

Bedrooms: -
Bathrooms: -
Car spaces: -
Land area: 1643m2
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Prime Development Opportunity in Ocean Grove

Situated in a premier street close to the main township of Ocean Grove, this exceptional property spans two residential blocks on separate titles of 821 sqm (approx.) each, totalling a massive 1643 sqm (approx.) of prime coastal real estate. Each block is available to purchase individually or as a whole. Currently in use as a bowling green, forming part of the popular Ocean Grove Bowling Club opposite, this already-levelled land presents minimal knock-down requirements, offering an unmissable opportunity for investors, developers, and builders.
Impressively located close to the Barwon River, Ocean Grove surf beaches and the thriving coastal towns of Ocean Grove and Barwon Heads. Its raised position offers immense potential for sweeping views across the Barwon River to the Bluff and beyond. The property's substantial size allows for versatile residential development and the dual titles provide flexibility and ample space for innovative projects. Opportunity also exists for a continuation of the current leaseback arrangements.
Don't miss this unique and rare chance to transform a piece of Ocean Grove's sporting history into a prime residential complex.
Note: Price Guide is indicative of entire parcel.
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Property Details for 15-17 The Terrace, Ocean Grove

Building Type
Land
Land Size
1643m2

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About Ocean Grove 3226

The size of Ocean Grove is approximately 18.5 square kilometres. It has 22 parks covering nearly 16.5% 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.

Ocean Grove has 11,326 properties. Over the last 5 years, Houses in Ocean Grove have seen a 40.68% increase in median value, while Units have seen a 22.37% increase. As at 31 July 2024:

  • The median value for Houses in Ocean Grove is $996,466 while the median value for Units is $794,517.
  • Houses have a median rent of $560 while Units have a median rent of $500.
There are currently 155 properties listed for sale, and 21 properties listed for rent in Ocean grove on OnTheHouse. According to CoreLogic's data, 389 properties were sold in the past 12 months in Ocean grove.

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Spencer Luppino
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