Seven neighbours have banded together to sell their properties - a total of about 31 hectares - to allow for Ballarat's inevitable population growth.
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The neighbours, who have owned their properties for more than 20 years, all agreed to put together one land package to offer developers.
The massive site consisting of seven titles is on the corner of Ballarat-Carngham Road and Wyn Close, Bunkers Hill, where residential subdivisions are creeping closer.
One property on Wyn Close, which sold for $550,000 in January 2013, is not included in the agreement.
Listing agent Luke Veal, of Jens Veal Byrne, said the occurrence of neighbours pulling their land resource together was rare.
He said the flexibility for the one purchaser was enormous compared with multiple purchasers.
"This is a particularly unique situation. Fancy getting a neighbourhood pulling their land resource and coming together with a common purpose in mind of deciding that the season of life of living here is coming slowly but inexorably to a close," Mr Veal said.
"The idea of allowing this property to be then put in the mix of the development of the west corridor is just genius. We do not get this opportunity presenting very often."
A 32.8 hectare property next door, 339 Ballarat-Carngham Road, sold in October with the potential for a 488-lot housing development yet to have council approval.
Wyn Close property owner Greg Forte said with Ballarat west's inevitable redevelopment and growth, almost sadly, the writing was on the wall.
He said with two elderly neighbours on large properties, the time was right to all come together and form an agreement.
"My neighbour and I had decided maybe we will move forward and maybe the time is to sell with the growth inevitable happening and what sort of package can we put together in order to go to market," Mr Forte said.
He said the group did not want to be the people standing in the way of the western growth corridor, and as a community they "could look after each other and actually offer developers and the growth of Ballarat an opportunity that normally you would be hit by tonnes and tonnes of resistance".
Neighbour Mick Tuddenham said Wyn Close residents had enjoyed rural living for the past 20 years.
"Now that the houses are so close, we thought we would all get together and it's been really good with the seven of us," Mr Tuddenham said.
"The timing has been perfect, it's landed 80 acres for sale. It's nice and close to Ballarat and we are all looking to give direction to the elderly, they are looking to move into town because they can't handle the acreage."
The Wyn Close properties are zoned for farming but before the sale of the land next door, City of Ballarat's development and growth director Natalie Robertson said the land was in an area that had been identified as a future western growth area for Ballarat.
She said it had potential to be rezoned to residential for further development.
The area has shown exceptional growth over the past five years and the site is flanked by other residential and retail/commercial developments.
Mr Veal said Ballarat's population growth was ahead of projections and the city needed about 1000 houses per year to keep up with the demand.
"I'm tipping the council is probably going to rule in favour of the big developer who sees the demand, and understands that this has to go through so that housing can be afforded to those people who are coming to make Ballarat home," he said.
Mr Veal was unable to give an indication of the selling price but he said it would be more than the sale of 339 Ballarat-Carngham Road.
To compare, the Wyn Close properties have one more accessible road and seven houses.
"We are putting it out there for those who are looking for something in an exciting growth corridor via an expressions of interest campaign," Mr Veal said.
"It would be premature and possibly unwise to predict what sort of price it will go for but we believe it will eclipse what next door sold for at the end of last year."
Expressions of interest close on Tuesday, September 5 at 4pm.
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