4 Lake Wendouree land sale expected to fetch $2.2m at auction

An “increasingly rare” parcel of land in one of Ballarat’s blue chip locations could fetch the city’s highest per-square-metre price tag.

4 Wendouree Pde in Ballarat is going to auction on July 18. Picture: realestate.com.au

A vacant block at a prime Ballarat location could fetch a price tag comparable to the city’s most expensive market sale per square metre.

4 Lake Wendouree — one of three vacant sites around the lake and the only one for sale — will go under the hammer on July 18.

It’s understood that 222 Lake Wendouree boasts the highest relative value in the area based on an off-market sale of about $3250 per sqm.

Previously, it sold publicly for about $3000 per sqm, the record at the time and the precedent for number 4’s potential $2.2m sale.

“It’s very unique,” Jellis Craig director Tim Valpied said of the 752sq m site.

“It’s under three titles this particular lot, so it does give it a little more flexibility potentially, subject to council approval.

“Interest in it so far has been very encouraging, we’ve had some good inquiry.

The view facing Lake Wendouree from the block. Picture: realestate.com.au

“These opportunities don’t come around very often and this particular block really lends itself to someone building a big home or potentially it could go to more of a developer who might decide to do either townhouses or apartment style depending on what they design and what the city council will allow.”

The block’s online listing boasts that the land is “perfectly positioned perfectly positioned to capture breathtaking lake views and spectacular sunsets over the water”.

“The evening fountain’s colourful display adds a distinctive touch, offering captivating vistas to enjoy from your new residence,” it says,

“Surrounded by Ballarat’s leading schools, hospitals, restaurants, cafes and with the walking track at your doorstep, this tightly held pocket offers a lifestyle of both convenience and distinction.

“Whether you’re ready to build your dream home or explore the exciting potential for development (STCA), opportunities in this prized location are increasingly rare and consistently sought-after.”