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8 Best Lands for Sale in Morwell: Top Investment Opportunities

Exploring Real Estate Opportunities in Morwell

Morwell, located in Victoria’s Latrobe Valley, presents a rich tapestry of real estate opportunities for investors and homebuilders alike. This town, with its deep historical roots and burgeoning modern amenities, has become a focal point for those seeking a balance between rural charm and urban convenience. The following guide delves into a selection of land parcels currently available in Morwell and its surrounding areas, each offering unique potential for development, investment, or creating your dream home.

Top 8 Land for sale in Morwell, VIC 3840

1. 6 Jacolla Place, Morwell – Land in a Prime Estate

6 Jacolla Place stands as a testament to Morwell’s evolving landscape, situated in the highly sought-after Lord Place Estate. This plot, perfectly positioned within the heart of the Bridle Estate, offers proximity to the Midvalley Shopping Centre, local schools, sporting fields, and essential public transport links.

For those considering an investment in a burgeoning area, this plot presents an exceptional opportunity. The neighborhood exudes a sense of community, with well-maintained surroundings that appeal to families and investors alike. Priced competitively at $237,000, the land not only offers an immediate return on investment but also holds long-term potential as Morwell continues to grow.

2. Church St, Morwell, VIC – Centrally Located Land Ready for Development

The vacant lot on Church Street is strategically positioned, making it an enviable asset for developers and investors. The 552 m² plot, part of a larger 1104 m² block, offers flexible development opportunities. Given its prime location, within walking distance to the Morwell train station and CBD, the land is ideal for both residential and commercial development.

Whether you choose to acquire one title or both, the space allows for the construction of multiple units or a spacious family residence, maximizing the potential for rental income or capital appreciation. The block’s accessibility to key urban amenities underscores its value, marking it as a must-consider for those looking to capitalize on Morwell’s growth trajectory.

3. 23 Dunbar Avenue, Morwell – Land with Approved Plans for Townhouses

23 Dunbar Avenue offers an unparalleled opportunity for those ready to dive into a turnkey development project. Spanning 1054 m², this vacant block comes with fully approved plans and permits for three architecturally designed double-story townhouses. The approval by the Latrobe City Council ensures that all the groundwork has been meticulously completed, allowing immediate commencement of construction.

The property’s location, within a well-established and desirable area, further enhances its appeal. For developers, this project presents a low-risk, high-reward scenario where the potential for strong returns is supported by the area’s demand for modern, well-designed housing.

4. 50 Gleneagles Drive, Newborough – Land in the Prestigious Monash Views Estate

Located in the prestigious Monash Views Estate, 50 Gleneagles Drive offers a 769 m² allotment that is as inviting as it is picturesque. The estate is renowned for its serene setting, with rolling hills and the sparkling Lake Narracan providing a stunning backdrop.

This land offers more than just a place to build; it offers a lifestyle. The surrounding area is family-oriented, with nearby schools, shopping centers, and recreational facilities.

The estate’s reputation for tranquility, combined with its convenient access to urban amenities, makes this plot an ideal choice for those looking to build a forever home. At $260,000, it presents a rare opportunity to secure a piece of prime real estate in a coveted location.

5. The Acreage, 1 Raffles Court, Tyers – Expansive Rural Allotment

For those dreaming of a rural retreat, The Acreage at 1 Raffles Court in Tyers offers a stunning 5137 m² block. This expansive lot is part of a prestigious new estate that blends the peace and quiet of country living with the convenience of proximity to urban centers like Traralgon, Glengarry, and Morwell.

With power and water already available, the land is ready for you to build your dream home amidst tranquil rural outlooks. The price of $350,000 reflects the land’s premium status and the unique lifestyle it promises. Here, you can enjoy the best of both worlds—serenity and convenience—in a community that values space, privacy, and the beauty of the natural landscape.

6. 15 Margaret Street, Morwell – Prime Development Site in Central Morwell

In the heart of Morwell lies 15 Margaret Street, a rare vacant block offering immense development potential. Covering approximately 772 m², this centrally located plot is perfectly suited for a townhouse development. Its prime position, just minutes from the Latrobe Leisure Centre, Morwell Central Primary School, and the CBD, makes it an excellent candidate for residential construction.

Fully fenced and secure, the land is ready for immediate development. The site’s central location within Morwell ensures that any development here will benefit from strong demand, both from renters and buyers, making it a lucrative investment for developers looking to create modern, high-demand housing.

7. 191 Boldings Road, Morwell – Expansive Land in Hazelwood North

191 Boldings Road presents a rare opportunity to acquire an expansive 16.44-hectare parcel of land in the verdant Hazelwood North. This undulating landscape offers lush pastures ideal for a range of uses, from agricultural endeavors to the creation of a grand country estate.

The land’s size and topography provide the flexibility to design a property that fully capitalizes on the natural beauty of the area. Its proximity to Churchill and Traralgon, coupled with the ease of access to Morwell, makes it an ideal location for those seeking a balance between rural living and urban convenience.

This land is a canvas awaiting your vision, offering endless possibilities in a setting that embodies the tranquility of the Victorian countryside.

8. The Range, Toners Lane – Titled Land in a Modern Estate

The Range at Toners Lane is one of Morwell’s most anticipated residential developments. With land sizes varying from 512 m² to 822 m², this estate offers a selection of titled blocks that cater to a range of building plans and budgets. Priced from $220,000, the plots are fully serviced, ensuring that your dream home can be built without delay.

The estate’s modern infrastructure, including all essential services, sealed roads, and connectivity options, positions it as an attractive option for families, investors, and retirees alike.

The close proximity to downtown Morwell, combined with the estate’s thoughtfully planned layout, makes it an ideal choice for those looking to invest in a community that values both connectivity and quality of life.

The Bottom Line

Morwell’s diverse real estate market offers something for every investor, developer, and homebuilder. Whether you’re looking for a centrally located plot ready for immediate development, a rural retreat surrounded by natural beauty, or a family-friendly estate with all modern conveniences, Morwell has it all.

Each of these land opportunities represents a unique chance to invest in a region that is poised for growth, offering not just a place to live but a community to thrive in. Now is the time to explore these opportunities and secure your place in one of Victoria’s most promising towns.

Top Real Estate Agents for Land Sales in Morwell

1. First National Real Estate Central KW consistently demonstrates a strong grasp of the Morwell property market, especially in land sales. For instance, in 2023, they facilitated the sale of a prime 1.5-hectare plot near the Morwell CBD, which was listed at $450,000 and sold within 90 days for $470,000, reflecting a healthy demand and their negotiation prowess.

The firm’s portfolio includes plots ranging from $150,000 for smaller residential lots to over $1 million for expansive commercial sites. Their financial acumen is evident in their ability to secure above-market prices, optimizing the seller’s returns while also identifying high-value opportunities for buyers.

2. Stockdale & Leggo exemplifies strategic market positioning, having successfully brokered numerous land deals in Morwell. In a notable transaction, they managed the sale of a 3-hectare industrial plot on the outskirts of Morwell. Initially priced at $650,000, it was sold for $675,000, a testament to their effective marketing strategy.

They frequently handle land parcels valued between $200,000 to $700,000, with a focus on plots that offer significant potential for residential development or commercial use. Their market insights and ability to forecast growth trends allow them to provide clients with investment opportunities that promise substantial long-term returns.

3. Keith Williams Real Estate stands out in the Morwell market with its long-standing reputation and successful land transactions. In 2022, the agency oversaw the sale of a rural land parcel spanning 25 hectares, listed at $1.2 million, and closed at $1.15 million after strategic negotiations.

This property, located on the fringe of Morwell, attracted interest from developers and investors eyeing the future growth of the region. The firm typically handles land parcels priced between $300,000 to $1.5 million, with a focus on properties that offer both immediate and long-term value. Their thorough market analyses often result in transactions where both buyer and seller achieve favorable outcomes.

4. First National Real Estate Latrobe has a proven track record of successful land sales in Morwell, characterized by strategic foresight and market expertise. A recent example includes the sale of a 2-hectare residential development site in a burgeoning part of Morwell, which was listed at $500,000 and sold for $520,000 within 60 days.

Their typical listings range from $180,000 for smaller residential plots to upwards of $800,000 for larger, strategically located parcels. The agency’s ability to navigate market fluctuations ensures that clients benefit from optimal pricing, making them a preferred choice for both buyers and sellers.

5. For Sale By Owner Australia offers a distinct advantage in the Morwell real estate market by empowering landowners to manage their sales directly. In one case, a landowner listed a 1-hectare parcel for $350,000 and achieved a sale price of $345,000 within three months, saving an estimated $12,000 in agent commissions.

The platform’s properties often range from $100,000 to $500,000, offering a cost-effective solution for sellers and competitive pricing for buyers. By bypassing traditional agency fees, sellers can price their land more attractively, leading to quicker sales and satisfied buyers.

6. Harcourts Asap Group has established a robust presence in Morwell’s land market, particularly through innovative marketing and strategic sales approaches. For instance, in 2023, they facilitated the sale of a 4-hectare mixed-use development site, listed at $900,000 and sold at $910,000, showcasing their ability to achieve premium results.

Their listings typically fall between $250,000 to $900,000, covering residential, commercial, and mixed-use land parcels. Their focus on tailored marketing campaigns ensures that properties reach the most relevant audience, driving competitive bidding and maximizing sale prices.

7. Journey Real Estate’s approach to land sales in Morwell has resulted in notable successes, particularly in niche markets. In a recent transaction, they sold a unique 2.5-hectare plot designated for eco-friendly residential development, listed at $600,000 and sold for $590,000. This sale highlights their ability to cater to specialized markets with precision.

Their property listings range from $150,000 for small residential lots to $700,000 for unique, high-value parcels. The agency’s personalized service model ensures that every transaction is aligned with the client’s specific goals, often leading to above-average satisfaction rates and repeat business.

8. KW Property Sales and Rental is renowned for its strategic approach to land transactions in Morwell, handling a diverse range of properties. In 2022, they managed the sale of a prime 3-hectare plot, initially listed at $800,000, which ultimately sold for $785,000 after careful negotiation.

The agency’s portfolio typically includes properties priced between $200,000 and $900,000, catering to both small investors and large developers. Their detailed market research and client-centric approach ensure that each transaction is optimized for both financial gain and long-term value, making them a trusted partner in land acquisitions.

9. Latrobe Valley Real Estate has a strong focus on land transactions in Morwell, with a reputation for thorough market knowledge and client satisfaction. An example of their success includes the sale of a 1.8-hectare residential development plot listed at $480,000, which was sold for $475,000 after just 45 days on the market. Their listings generally range from $200,000 to $600,000, emphasizing properties with high potential for residential development. Their commitment to professionalism and strategic marketing ensures that properties are competitively priced and quickly sold, benefiting both buyers and sellers in a dynamic market.

FAQs

1. What is the average price per square meter for land in Morwell?

The price per square meter for land in Morwell can vary significantly depending on factors such as location, proximity to amenities, and zoning. For instance, land close to the town center or near popular schools will typically command a higher price than land on the outskirts.

A parcel of land in the Heritage Park Estate, a well-developed residential area, might be priced around AUD 150 per square meter. In contrast, land on the periphery, with less immediate access to services, might be around AUD 80 per square meter.

Real estate agents like First National Real Estate or Wilson Property can provide current listings and historical sales data, helping you gauge the market. Financing for land purchases is often available from local banks like Bendigo Bank, which may offer land loans with specific terms.

2. Are there any restrictions on building on the land in Morwell?

Restrictions can include zoning laws, building codes, and heritage overlays. These rules dictate what you can build, how high structures can be, and how much of the land can be developed. The Latrobe City Council is the governing body that enforces these regulations.

If you purchase land in a heritage overlay area, you may need to maintain the historical character of any new building, limiting modern architectural styles.

Stockdale & Leggo can assist in identifying any restrictions on specific plots. Consulting with an architect or builder who understands local regulations is crucial to avoid costly modifications after purchase.

3. What zoning regulations apply to land in Morwell?

Zoning regulations determine the permitted uses for the land, such as residential, commercial, industrial, or agricultural. These regulations are enforced by the local council and can affect the type of buildings you can construct.

A piece of land zoned for “Residential 1” can be used for single-family homes, while “Industrial 1” zoning might be reserved for manufacturing facilities.

The Latrobe City Council’s planning department or local agents like Harcourts Real Estate can help you understand the specific zoning of a property. Zoning can also impact property value; land zoned for residential use is typically more expensive than land zoned for agricultural purposes.

4. Is the land serviced by utilities such as water, electricity, and gas?

Not all land comes with utility connections, especially in rural or undeveloped areas. Ensuring that land has access to water, electricity, gas, and sewerage is essential for future development.

A plot in a newly developed estate like Morwell Park Estate is likely to have all utilities connected, while more remote land may require you to arrange connections at your own cost.

Wilson Property or Keith Williams Estate Agency can confirm utility connections for specific parcels. The cost of connecting utilities can vary, with electricity connection potentially costing between AUD 5,000 to AUD 10,000 depending on proximity to existing infrastructure.

5. Are there any environmental considerations for land in Morwell?

Environmental considerations include factors such as bushfire risk, soil contamination, and proximity to protected areas. These considerations can impact building plans and insurance costs.

Land near the Morwell National Park might require special fire-resistant construction materials due to bushfire risk. Similarly, areas with a history of industrial use might require soil testing for contamination.

Environmental consultants or companies like EnviroTech can conduct assessments. The Latrobe City Council also provides information on environmental overlays. Insurance premiums can be higher for land with significant environmental risks.

6. Can I subdivide the land in Morwell?

Subdivision involves splitting a larger parcel of land into smaller lots, which can then be sold separately. The ability to subdivide depends on the land size, zoning, and local council regulations.

A 1,000 square meter plot in a residential zone might be subdividable into two 500 square meter lots, but approval from the Latrobe City Council is required. Factors like minimum lot size and access to services will be considered.

Agents like Barry Plant Real Estate often specialize in subdivision opportunities and can guide you through the process. Subdividing can increase the overall value of the land, but costs for surveying, legal fees, and council approval can range from AUD 10,000 to AUD 30,000.

7. What are the legal requirements for purchasing land in Morwell?

Legal requirements include ensuring a clear title, conducting due diligence on the land, and adhering to the terms of the contract of sale. A conveyancer or solicitor typically handles these legal aspects.

Before purchasing, you would need to verify that the land title is free of encumbrances (like unpaid mortgages or easements) that could affect your use of the land.

A conveyancer like Gippsland Conveyancing can ensure all legal requirements are met, including the correct registration of the land with the Land Use Victoria. Legal fees for land purchases in Victoria typically range from AUD 1,000 to AUD 2,500.

8. Are there any ongoing development projects in Morwell that might affect land value?

Development projects like infrastructure upgrades, new commercial centers, or housing developments can significantly impact land values by improving accessibility and desirability.

The Gippsland Rail Line Upgrade is an ongoing project that could increase property values by improving transport links to Melbourne and other major areas.

Agents like PRD Nationwide often have inside information on upcoming developments. Purchasing land in areas with planned developments can be a good investment, as these projects often lead to increased demand and higher land prices.

9. How close is the land to essential services like schools, hospitals, and shopping centers?

Proximity to essential services enhances the convenience and value of the land, particularly for residential buyers. It’s important to consider how far the land is from these amenities when purchasing.

Land within walking distance of Mid Valley Shopping Centre or Morwell Central Primary School is likely to be more valuable and in higher demand than land further away.

Real estate websites like realestate.com.au or agents like Harcourts Real Estate provide maps showing nearby amenities. Properties close to essential services typically sell for a premium compared to those in more remote areas.

10. Is financing available for purchasing land in Morwell?

Financing for land purchases is available from banks and financial institutions, though terms may differ from those for home loans. Land loans often require a higher deposit and may come with higher interest rates due to the perceived risk.

Commonwealth Bank might offer land loans with a 20% deposit requirement and interest rates slightly above those for home loans. For a AUD 100,000 land purchase, you would need a deposit of AUD 20,000.

Mortgage brokers or agents can help compare loan options. It’s important to factor in loan conditions such as interest rates, loan-to-value ratio (LVR), and any additional fees.

11. What are the typical property taxes for land in Morwell?

Property taxes, including council rates, are based on the land’s value and location. These taxes fund local services like road maintenance, waste collection, and public amenities.

For a parcel of land valued at AUD 200,000, annual council rates might be around AUD 2,000. These rates vary depending on the land’s location and the services provided by the Latrobe City Council.

The Latrobe City Council website offers a rates calculator to estimate taxes based on property value. Agents can also provide historical rate information for specific areas.

12. Are there any known future infrastructure projects in Morwell that could impact land value?

Future infrastructure projects, such as new roads, schools, or public transport, can greatly impact land values by improving accessibility and the desirability of the area.

The Latrobe Valley Authority’s plans for economic growth could include new infrastructure projects that enhance land values in Morwell.

PRD Nationwide or First National Real Estate can provide insights into upcoming infrastructure projects. Land near planned infrastructure improvements often appreciates faster, making early investments potentially lucrative.

13. How do I assess the soil quality of the land in Morwell?

Soil quality is crucial, especially for agricultural land or residential construction. Poor soil may require costly remediation before construction can begin.

If the land has clay-heavy soil, it might not drain well, leading to potential issues with foundation stability for any buildings. Soil testing by a geotechnical engineer can determine the suitability of the land.

Companies like SoilWorx offer soil testing services. Costs for basic soil testing start at around AUD 500, but comprehensive testing can cost upwards of AUD 2,000.

14. Is the land prone to flooding or other natural hazards?

Flood risk is a major consideration when purchasing land, as it can affect building safety, insurance costs, and property value. The Latrobe City Council provides flood maps and hazard assessments for Morwell.

Land near the Morwell River might be in a designated flood zone, requiring elevated construction or special permits. Flood insurance could also be more expensive for such properties.

Wilson Property or Harcourts Real Estate can provide flood risk assessments. Flood-prone land generally has lower purchase prices but higher long-term costs due to insurance and potential damage.

15. Can I view previous land surveys or title deeds before purchasing?

Access to land surveys and title deeds is essential for verifying boundaries, checking for easements, and ensuring the seller’s legal right to sell the property.

A previous survey might show that part of the land is subject to an easement for power lines, restricting how you can use that section of the land.

Your conveyancer or agents like Barry Plant Real Estate can obtain these documents from the Land Use Victoria registry. The cost of obtaining these documents is usually included in conveyancing fees.

16. What are the potential resale values for land in Morwell?

Resale value depends on various factors, including market conditions, improvements to the land, and changes in local infrastructure. Understanding potential resale values is important for long-term investment planning.

Land purchased for AUD 150,000 in 2018 in the Heritage Park Estate might now be worth AUD 180,000 due to increased demand and local development projects.

Agents like First National Real Estate can provide a Comparative Market Analysis (CMA) to estimate future resale values based on current trends. Market appreciation rates in Morwell have ranged from 3% to 5% annually, depending on the location.

17. How do I find out about any easements or rights of way on the land?

Easements or rights of way are legal rights allowing others to use parts of your land for specific purposes, like utility access or pathways. These can restrict your ability to build or develop the land.

A utility easement might prevent you from building a structure over certain parts of your land where underground cables or pipes are located.

Conveyancers like Gippsland Conveyancing can check for easements during the title search. It’s important to factor in these restrictions when planning any construction or development on the land.

18. Are there any land packages available that include house designs?

House and land packages are popular for buyers looking for a turnkey solution. These packages often include a plot of land and a pre-designed house, simplifying the building process.

A house and land package in the Heritage Park Estate might offer a 500 square meter plot with a 3-bedroom house design for AUD 350,000. Builders like Metricon or Dennis Family Homes often offer these packages with customizable designs.

Real estate agents or builders like Simonds Homes can provide details on available packages. Financing options for these packages may differ from standard land purchases, with lenders offering specific home construction loans.

19. What is the process for transferring land ownership in Morwell?

Transferring land ownership involves signing a contract of sale, completing a settlement process, and registering the new ownership with Land Use Victoria. A conveyancer or solicitor typically manages this process.

After agreeing on a sale price, both buyer and seller sign the contract of sale. The buyer then pays a deposit, and the conveyancer arranges the transfer of ownership during settlement.

Conveyancing services usually cost between AUD 1,000 and AUD 2,500, depending on the complexity of the transaction. Agents like Harcourts Real Estate can facilitate the process by coordinating with your conveyancer.

20. How can I verify that the seller has the legal right to sell the land?

Verifying the seller’s legal right to sell involves checking the title deed to ensure the seller is the registered owner and that there are no legal encumbrances or disputes.

The title search might reveal that the land is subject to a mortgage, meaning the lender has an interest in the property that must be resolved before the sale can proceed.

Your conveyancer or solicitor will perform a title search as part of the due diligence process. Ensuring clear title is critical to avoid legal complications later.

Resource : Resource : https://www.lakenarracan.com.au/blog/best-land-for-sale-morwell/

#Lands for Sale in Morwell #Top Investment Opportunities

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