A prime piece of coastal land in Warrnambool has been sold and could be turned into a housing estate for up to 100 homes, a real estate agent says.
While any future plans for the site would be subject to council approvals, Ludeman Real Estate's Mark Dwyer said the location was one of the last parcels of land so close to town and the beach that had been up for sale.
Mr Dwyer said the land owned by Warrnambool Golf Club, had been sold to a local businessman, subject to a contract being formalised, but he couldn't reveal the price until the paperwork was signed.
"At this stage it is zoned farm land and can't be subdivided unless there was a rezoning," he said.
"I think there is no doubt that the people who have bought it are probably looking down the path of possibly rezoning the land down the track."
Mr Dwyer said there were 10 expressions of interest of which were narrowed down to three, and the golf club committee selected the successful tender on Wednesday.
"They were three very good offers," he said.
Mr Dwyer said any potential new housing estate would have to be accessed via Swinton Street because the flood zone would prevent it joining up with the Mervue Estate.
"I would think you would get around 80 to 100 blocks on it," he said.
"It's a great location. It's probably one of the last positions close into town and close to beach that is available.
"I don't know of any other that you could go and buy that would be in as good a position as what this land is."
Mr Dwyer said the farming land couldn't be rezoned while the rendering plant was still at Levy's Point.
He said the proceeds of the sale would be used to help fund the golf club's upgraded clubhouse.
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