Seven neighbours have joined forces in a rare strategy to sell their lifestyle properties near Ballarat in western Victoria.
Although the land is zoned farming, the neighbours are hoping Ballarat's population boom will lure residential developers to the 31 hectares (77 acres) they have combined.
Then it will be up the local council's planners whether they agree to chop up the little farms for residential development.
The neighbours combined their holdings into one land package across seven titles is on the corner of Ballarat-Carngham Road and Wyn Close, Bunkers Hill.
On their own, with block sizes ranging from 10 to 16 acres, the developers may not be tempted but you can fit a lot more houses on 77 acres.
Agent Luke Veal of Jens Veal Byrne said the flexibility for the one purchaser was enormous compared with multiple purchasers.
"Fancy getting a neighbourhood pulling their land resource and coming together with a common purpose in mind of deciding that the season of life of living here is coming slowly but inexorably to a close," Mr Veal said.
"The idea of allowing this property to be then put in the mix of the development of the west corridor is just genius. We do not get this opportunity presenting very often."
A 32.8 hectare property next door, 339 Ballarat-Carngham Road, sold in October with the potential for a 488-lot housing development yet to have council approval.
Property owner Greg Forte said with Ballarat west's inevitable redevelopment and growth, almost sadly, the writing was on the wall.
He said with two elderly neighbours on large properties, the time was right to all come together and form an agreement.
"My neighbour and I had decided maybe we will move forward and maybe the time is to sell with the growth inevitable happening and what sort of package can we put together in order to go to market," Mr Forte said.
He said the group did not want to be the people standing in the way of the western growth corridor, and as a community they "could look after each other and actually offer developers and the growth of Ballarat an opportunity that normally you would be hit by tonnes and tonnes of resistance".
Neighbour Mick Tuddenham said Wyn Close residents had enjoyed rural living for the past 20 years.
"Now that the houses are so close, we thought we would all get together and it's been really good with the seven of us," Mr Tuddenham said.
"The timing has been perfect, it's landed 80 acres for sale. It's nice and close to Ballarat and we are all looking to give direction to the elderly, they are looking to move into town because they can't handle the acreage."
The area has shown exceptional growth over the past five years and the site is flanked by other residential and retail/commercial developments.
Mr Veal said Ballarat's population growth was ahead of projections and the city needed about 1000 houses per year to keep up with the demand.
"I'm tipping the council is probably going to rule in favour of the big developer who sees the demand, and understands that this has to go through so that housing can be afforded to those people who are coming to make Ballarat home," he said.
"It would be premature and possibly unwise to predict what sort of price it will go," Mr Veal said.
Expressions of interest close on Tuesday, September 5 at 4pm.
- with Ballarat Courier.
