It has asked the City of Greater Bendigo's permission to subdivide the vacant industrial land at 312-334 McIvor Road, Junortoun.

Citywest Corp Pty Ltd has also lodged a separate application for an 11-lot industrial subdivision nearby at 280-310 McIvor Road.

The council is considering both applications.

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Citywest is part of an investment group founded in Shepparton in 1958, which now has interests throughout Australia, the United States and Europe.

The group, its founders and their extended family now employ over 5000 people in a variety of businesses through the Copulos Group.

The latest plans come as demographers predict a population boom on Bendigo's eastern outskirts.

Junortoun is part of a wider area where the population could surge 11.5 per cent to 9724 people by 2036, according to experts from demography firm ID.

The surge does not include an even bigger explosion in the nearby suburb of Strathfieldsaye, which is expected to grow by 71 per cent to 12,647 people.

Junortoun's growth has already underscored the limited shopping opportunities in the area.

A general store and post office are 1.3km down the highway from Citywest's site, and a service station is 1.1km up the other way.

Citywest has also noticed that Bendigo is scrambling to find industrial land to avert looming shortages.

It is yet to confirm estimates over the cost of redeveloping the 2.9 hectare site.

A final build could include a petrol station capable of operating 24 hours a day, depending on permissions from the council.

The two fast-food restaurants could also potentially operate 24/7.

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Citywest would set aside another building for a medical centre or pharmacy.

"With healthcare shifting away from the hospital setting, a community-based approach is key to providing and improving local patient experiences and care," it told the council.

"The centre is expected to provide a team of GPs, practice nurses, practice managers, support staff and allied and other specialist services including but not limited to blood services and [a] chemist."

Three warehouse structures to the east of those buildings would help minimising impacts on those living nearby, Citywest said.

The warehouse would be used for "lower impact" industrial uses, it told the council.

Homes in Goldstein Circuit would also have a 20 metre land buffer between them and the buildings, Citywest plans show.

Citywest hopes to create buildings that are "striking yet complimentary" and that work with landscaping to be welcoming and attractive.

The application is not the first that has been floated for the site.

Back in 2011, developers won permission to subdivide the block of land into an 11-lot subdivision which was never completed.

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