Latest news with #OceanGrove
News.com.au
28-07-2025
- Business
- News.com.au
Ocean Grove: Coastal hub drives $380K income with upside
A collection of tenanted investment properties in Ocean Grove's main retail strip is set to break commercial real estate records in the Bellarine Peninsula town. The Commercial 1 zoned properties, dubbed The Elite 8 – Ocean Grove Collection, comprises eight leased tenancies across nine titles at 65-67 The Terrace and 6-9 Park Lane. The conglomeration delivers a net annual income of more than $380,000, plus GST, and is being sold in line in an expressions of interest campaign closing in August. Aussie cult chicken chain eyes KFC take-down The 959sq m landholding has a strategic dual street frontage and offers long-term future development potential. Darcy Jarman agents Andrew Prowse and Tim Darcy, in conjunction with Kerleys Coastal director Damian Cayzer, are managing the expressions of interest campaign closing August 21. 'It's almost 1000sq m of commercial land, that on its own is a significant attribute to the property. There's nothing like outside the Coles building or Home Timber and Hardware on that strip so the scale can't be ignored,' Mr Prowse said. 'It's a unique opportunity – eight tenancies offered for sale in one line and fully leased to longstanding tenants. They're all on three-year terms and a lot of them are on renewed terms. 'The average tenure is over 11 years, so it's an asset that hasn't been presented to the Geelong market for a long time.' The diverse mix of tenants across banking, retail, health, hospitality and service sectors lowers to the risk profile for future owners, Mr Prowse said. Tenants include Bendigo Bank, Oceans24 Health Club, Mac's Menswear, Mudge Shoes, and longstanding institutions such as Cleo Fine Jewellery. 'I'm a big fan of The Terrace, it's one of the best retail strips on the Bellarine and is constantly around zero vacancies along the strip at any one time,' he said. Given its CBD location, it's strong income and mix of tenancies, industry sources say the property could match a 5 per cent to 6 per cent yield achieved in similar landmark sales with future development upside across the Geelong region in recent years. That could push the value to $6m. The Terrace is a bustling business hub, with national retailers such as Coles, ANZ and the Commonwealth Bank, high foot traffic and year-round demand that swells over summer. Mr Prowse said there as been good initial engagement, with a mix of local, Melbourne and interstate groups seeking information. 'It'll be someone that will be looking to enjoy that income today but potentially have an understanding of what that area will evolve to and become and continue to be. 'But given the security of the income, it's very much a land bank with a cash flow and down the track a grander plan for that site could be activated.'
ABC News
03-07-2025
- Entertainment
- ABC News
When a sea change collides with messy midlife
During Melbourne's lockdowns, Journalist Kate Halfpenny and her husband Chris decided to leave the city for a sea change, to a beautiful town called Ocean Grove on the Bellarine Peninsula. For the first time in her life, Kate had an empty house, no job commitments and no city life to distract her. She was able to indulge daily in her love of boogie boarding and surf-side walks with her dog, Maggie. One day at the beach, Kate saw her elderly father struggling in the surf. Chris was in the water next to him, but was acting strangely and couldn't manage to haul him out of the dangerous water. That evening, Chris confessed his alcoholism to Kate and the couple faced the inevitable decisions they would have to navigate, together and apart. Further information Boogie Wonderland is published by Affirm Press.
News.com.au
08-06-2025
- Lifestyle
- News.com.au
Quality craftsmanship dazzles at high-end Ocean Grove new build
This luxurious architectural home oozing contemporary coastal cool may seem a world away from Ocean Grove's beach shacks of old. But if you look closely, you can find the odd reference to the town's traditional timber and fibro houses in among the new build's sleek high-end finishes. It's there in the entrance hall where builder Michael Leake has used humble weatherboards to create something special in the form of a sculptural curved wall. 'I took the notion that we came down to the beach and we built timber or fibro cement shacks because it was cheap and readily available and I've turned it inside out,' he says. 'I've used those finishes internally so it's a timber weatherboard that I've stood vertically – it's an ode to yesterday.' The new five-bedroom, four-bathroom house at 57 The Terrace, Ocean Grove, is a masterclass in quality craftsmanship that draws on the combined talents of the builder's ML Constructions, Splinter Society architect Chris Stanley and interiors whiz Rebecca Boykett. Mr Leake says the brief was to maximise panoramic ocean and Barwon Heads bluff views from the 709sq m property's hillside position while creating secluded, warm open space. This is achieved by wrapping the upper level of the house around a central north-facing outdoor area featuring a self-cleaning swimming pool. Externally, the builder lent into his love of unfinished, durable materials – recycled timbers and copper that require no maintenance – to clad the solid concrete structure. Inside, a curved stone feature wall that divides the dining and living areas is complemented by European oak joinery, oak flooring, natural marble surfaces and pure wool carpets. Curves make regular appearances, in the island kitchen bench, in doorways, skylights, decks and even the striking hearth finished with traditional white set plaster that surrounds the lounge's open fireplace. The house is largely set on one level, save for a four-car garage with electric car charging and a an self-contained bedroom/office with its own ensuite and external access on the entry level. A lift provides easy access to the main living hub upstairs where you could lose hours gazing at the expansive ocean views. Stacker sliding doors link the central kitchen, fitted with premium Miele appliances, to the sheltered private deck overlooking the swimming pool and landscaped gardens. A second rumpus room is privately zoned with four further bedrooms at the rear of the house. Two of these bedrooms have ensuite bathrooms, including the main suite which also includes luxurious his and her walk-in wardrobes and direct pool access. 'It's really important to maintain the outside connection so we have got a view from the master bedroom so when you lie in bed you can see the ocean,' Mr Leake says. Bellarine Property agent Christian Bartley is handling the sale of 57 The Terrace, Ocean Grove. Price hopes are $4.5m to $4.9m.
