Cedar Woods seizes on growth opportunity in Geelong

We're pleased to advise we have acquired a strategic 18.6Ha site in Corio, near Geelong, Victoria.

The site on Plantation Road, Corio is zoned General Residential and is proposed to be developed into a residential subdivision of approximately 400 lots and parkland.

The site, purchased off-market for approximately $34.9 million from a private vendor, is expected to settle in January 2026 and contribute to earnings by FY2027.

Cedar Woods’ Managing Director, Nathan Blackburne, said whilst the Geelong market has been subdued more recently, this acquisition is a countercyclical, strategic opportunity.

“The Geelong housing market is forecast to enter a period of undersupply with a significant housing shortfall predicted. We are capitalising on the opportunity now to ensure we are ready to respond with affordable land supply, in a sub sector that is tipped to outperform in Victoria when it recovers. In the interim, we will progress planning approvals to ensure the project is market ready when this occurs”.   

The residential estate will add approximately 400 homes to the area, with the majority of the development expected to comprise single storey, three- and four-bedroom homes designed to appeal to young families and those looking to enter the market at a more affordable price point.

The site is one of the largest undeveloped parcels of land within Corio, situated less than ten kilometres from the centre of Geelong, close to the Princes Highway and Avalon Airport.

Mr Blackburne said Cedar Woods has a history of successfully acquiring strategically located sites, that can generate strong returns for shareholders and excellent homes for customers.

“With our strong balance sheet, Cedar Woods remains well positioned to continue our strategy of diversification, strengthening our portfolio with quality product that can provide supply into a housing market where projected supply shortfalls are significant.”