A group of high-powered Perth business executives, led by former Aurora Oil and Gas chairman Jon Stewart, has put a $40 million Geelong housing site on the
The 30-hectare site in Armstrong Creek, a greenfield suburb south of the Geelong CBD, has the potential to yield 443 lots in an area that is awash with new housing
estates by the likes of Jinding Australia, Villawood, Metricon, Dennis Family and ID Land.
Title deeds show the 502-580 Boundary Road site last sold for $3.7 million in 2005 (settlement occurred in 2008) when it was acquired by Armstrong Creek Pty Ltd.
Mr Stewart, who made about $83 million when he orchestrated the $1.8 billion acquisition of Perth-based Aurora by Canada’s Baytex Energy in 2014, is the biggest shareholder in the company that owns the site and is also listed as a director.