Permit Approved Marina & Residential Development site on Victoria’s Mornington Peninsula
Knight Frank are delighted to present to market Somerville Cove, a truly rare development opportunity on Victoria’s thriving Mornington Peninsula.
2 Lumeah Road, Somerville (Somerville Cove) is a unique 11.53ha* site set across two titles permitted for development and extension of the existing Yaringa Boat Harbour. This unique offering comes with a permit approved development for 180 freehold marina berths and 180 apartments set across nine buildings surrounding the marina. The astute nature of the design and permit allows for the strategic staging of the development and construction.
Somerville Cove sits within Victoria’s iconic Mornington Peninsula approximately an hours drive from Melbourne’s CBD. The Mornington Peninsula is renowned for its lifestyle attractions and amenity including award winning wineries and golf courses mixed amongst some the states most iconic properties and rural homes. The offering is underpinned by the exponential growth seen in the Mornington Peninsula as the baby boomer sea change has driven demand of residential real estate and lifestyle convenience over the last 5 years.
Key Property Highlights
- Freehold marina berths providing absolute scarcity
- De-risked opportunity through the ability to stage development
- 11.53 ha* special use site
- Strong growth in demand of residential property
- Strategic expansion of the existing Yaringa Harbour
The property is for sale via Expressions of Interest, closing Wednesday, 10 April at 12pm (AEST).
Remember to mention you found this property on DevelopmentReady
