Colliers International lists 93-hectare residential development estate in Yarrawonga
About 93 hectares of prime Murray River land is up for sale for the first time in 144 years, as a growing trend of developers cashing in on the town’s booming tourist economy emerges.
The acreage on Murray Valley Highway, Yarrawonga, has been in the Gorman family since 1873, and recently rezoned from Rural to General Residential under the title of Glanmire Park Estate.
Colliers International’s Kim McQueen and Shane McIntyre have been appointed to the expressions-of-interest campaign on behalf of the Gorman family, saying they anticipated enquiry from a wide range of domestic and international developers.
Ms McQueen said it was a “a real privilege” to be marketing a landholding with such a significant local history.
“The Gormans were a pioneering family back in the 1850s and the family is synonymous with Yarrawonga as one of the major land holders and farming families in the district,” she said.
Ms McQueen said Glanmire Park Estate represented a unique opportunity to purchase an expansive development site in a growing regional centre, less than 100 kilometres from other key regional hubs, Albury-Wodonga, Benalla and Shepparton.
“This parcel of land is a strategic part of the Moira Shire Council’s residential growth plan for the region and presents endless scope for development,” she said.
“Yarrawonga-Mulwala has solid economic growth, great demand for housing and a steady investment stream within the region. The current population is about 9,000, with a growth rate of 3.5 per cent per year.
“We are seeing an increase in demand for assets such as Glanmire Park in regional areas – particularly those experiencing population growth and increased tourist traction.”
Ms McQueen said the land was a timely chance to cash in on the “booming” Yarrawonga-Mulwala tourism region.
“The region is renowned for its wonderful climate and picturesque landscape, and is an aquatic paradise with Lake Mulwala and the Murray River on its doorstep,” she said.
“Yarrawonga is the fastest-growing town within the Moira Shire and has become a vibrant and progressive place to live, work and do business.”
The land has convenient access to new medical facilities, supermarkets, a childcare centre, aged care facility and schools. It is bounded by Woods and Cahills Roads and adjacent to Silverwoods Golf and Lifestyle Resort, with 720 metres’ frontage to the Murray Valley Highway that could be converted to Commercial zoning, subject to council approval.
Expressions of interest close Wednesday, October 11 at 2pm.