Today it is a tranquil and friendly rural town set amongst picturesque volcanic plains and lakes, surrounded by quaint townships and offering a smorgasbord of things to do and see. Billed as the Gateway to the Otways, Colac is around 150kms and an hour and a half from the Melbourne CBD. 1. Lake Corangamite., Things to Do in Colac, Australia: See Tripadvisor's 2,432 traveller reviews and photos of Colac tourist attractions. Find what to do today, this weekend, or in July. We have reviews of the best places to see in Colac. Visit top-rated & must-see attractions., Found in the southern region of Victoria, Colac serves as a gateway to the impressive Otway National Park. As many journey to this small town along the Great Ocean Road journey., In the heart of regional Victoria, Colac is a lovely town that combines natural beauty, cultural heritage and local life. Known as the gateway to the Great Otway National Park, Colac has stunning scenery – volcanic lakes, botanic gardens, and ancient rainforests., Colac is situated on the famous Great Ocean Road and is a beautiful regional town, the starting point to explore South West Victoria’s natural beauty and culture. Colac has a mix of natural beauty, historic landmarks and local flavour that’s for everyone to enjoy., Colac has a rich history, dating back to the arrival of the first European settlers in the 1840s. The town developed as an important centre for the region's agricultural industry, particularly dairy farming. Today, Colac is known for its dairy products, which are exported throughout the world..