ONE of the last large parcels of land within the Ocean Grove township has hit the market again after a sale fell through last year.
The 2.21ha property at 242-250 Grubb Rd was reported sold to land developers for $2.25 million in the middle of last year, however the sale fell through.
It is now back on the market for $2 million to $2.2 million.
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Bellarine Property, Barwon Heads agent Ben Roberts said it was zoned residential one with future subdivision potential for residential house blocks.
“It depends on how clever and creative the buyers are, they could get 16 blocks or 20 blocks,” Mr Roberts said.
“There might be a few trees you have to keep too.”
Mr Roberts said land was very sought after on the Bellarine Peninsula, especially in town zones.
“This is a very good opportunity, last time we had three people try and buy it and we have already had a few inquiries on it now,” he said.
“It is a pretty valuable asset.”
The site has an existing house on it that has rental potential.
The house has four bedrooms, including a main bedroom with ensuite and walk-in wardrobe, kitchen and meals area, sunroom, dining room, loungeroom and games room.
There is also a carport and shedding on the property among established trees.
The property borders the Oakdene estate and will have easy access to future infrastructure.