A major development site in the heart of old Torquay’s tightly held tourism centre has hit the market, offering a rare “goldilocks” opportunity in one of Victoria’s fastest-growing coastal communities.
The 2,805 sqm parcel, located at 18-20 and 22 Bristol Road and 1A Fischer Street, spans three freehold titles and is zoned Commercial 1 (C1Z), paving the way for a multi-level, mixed-use development (STCA).
Positioned between Woolworths and Coles and just minutes from the beach, the site boasts 70 metres of dual street frontage and sits within one of the Surf Coast’s highest-traffic retail and tourism precincts.
“It’s very rare to find a site of this scale, with this zoning, in this position - it’s right in the goldilocks zone,” said Burgess Rawson partner Shaun Venables. “This could be the last chance to build something substantial in the old traditional town centre.”
Mr Venables said Torquay’s broader growth story was accelerating. More than 5.5 million people travel the Great Ocean Road each summer and the Surf Coast Shire’s population of over 40,000 triples during peak holiday periods.
“Torquay’s seen phenomenal growth. Residential values are up, the population is rising, and demand has never been stronger,” he said.
Currently leased to Petstock, Natural Real Estate and the Women’s Health Medical Centre, the property generates an estimated net income of $211,759 per annum. Mr Venables said the flexible, short-term leases offer holding income while redevelopment plans are finalised.
He said enquiry had already been brisk, reflecting the scarcity of comparable sites. “This is a strategic site in a location that’s only becoming more valuable - developers know how rare this kind of asset is,” he said.
He credited the strong early interest to the campaign’s digital reach through Ready Media Group.
“We’ve long been fans of the Development Ready platform - it’s a non-negotiable for us when we list a site like this,” he said. “And the Commercial Ready campaign has been a real surprise. That’s fast becoming a must-have in every campaign too.”
The property is for sale via an Expressions of Interest campaign closing Wednesday 21 May 2025 at 3 pm AEST.
