THE timing of last week’s Urban Growth Boundary changes couldn’t have come at a better time for the syndicate of investors selling Melbourne’s biggest development site, measured by area. The massive 555 hectare site at Truganina, in Melbourne’s west, is expected to sell for $100 million – after failing to sell for about that amount two years ago, at the start of the economic downturn, and before the site’s zoning future was confirmed. “Under the rezoning the site will be a keystone property for the future development of Melbourne,” said CB Richard Ellis director Walter Occhiuto, who is selling the site with Tom Hayes, said.
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