While the region's industries are crying out for more land to be made available, sites lie dormant in estates across Mortlake, Camperdown and Cobden.

Buyers who snapped up blocks in the council-created estates are holding on to their investment, believing prices will rise because of the dire lack of land.

The critical shortage of industrial-zoned land has only been heightened by the failure of a planned industrial venture at Allansford.

The land lock is frustrating authorities, who have poured hundreds of thousands of dollars into the projects to stimulate economic activity in the small towns.

``It is disappointing that some of the blocks have just been sat on,'' Corangamite Shire's economic development manager Terry Binder said.

``I would like to think there are businesses keen to set up on fully-serviced industrial land.''

Which there are. Moyne and Warrnambool councils said they were inundated with inquiries from potential industries.

``There is pressure on the council to look at industrial land for several locations in the shire,'' Moyne's chief executive officer Brett Stonestreet said.

The doomed Allansford project sunk in the site's underground sinkholes and caves, costing ratepayers seven years and more than $1 million.

The value of that lost time is highlighted by the development of the Cobden estate, which a decade after its launch has just five of its 14 blocks developed.

All 14 blocks are also sold at Camperdown, with four still awaiting development.

Four years after the first sale at Mortlake, just six blocks are being used on the Connewarren Lane site.

The last of the 21 blocks at Mortlake is expected to attract strong interest when it goes up for auction.

Mr Stonestreet said the council was likely to attach a time limit clause to the sale to fast-track development. It would be used to ensure the owner lodged a planning permit for the site and did not hold it as a longer-term investment.

In Corangamite, a similar scheme - offering financial incentives for blocks to be developed within two years - failed to convince owners to develop.

Confident there is enough available industrial land in the shire - with 25 hectares at Camperdown's former abattoir site to be created - Mr Binder wants that translated into development.