SYDNEY-based Stockland Limited has committed to paying $300 million for a 1,121 hectare development site north of Melbourne, reportedly Australia’s largest ever individual land transaction. The Lockerbie sheep station, about 35 kilometres north of Melbourne, falls within the recently redefined Urban Growth Boundary, now, effectively allowing it to be rezoned for residential use. To date Melbourne has sprawled substantially east, and south, but less so, to the north and south. [...]
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THOROUGHBRED owner and tuna farmer Tony Santic is offloading a 1725 hectare lifestyle property in G narwarre, near Geelong. Roxby South, the 1725 hectare estate where three-time Melbourne Cup winning racehorse Makybe Diva is retired and has bred, is expected to sell for about $8 million. The estate includes several buildings, 13 dama, 14 large grazing paddocks, 450,000 gallons of water storage tanks and about 20 kilometres of post and rail fencing. [...] FORMER Toll Holdings chairman Peter Rowsthorn and trainer Dale Sutton are selling a thoroughbred racing, training and breeding property about eight kilometres north of Seymour. Wadham Park Seymour was initially offered for sale by tender as a whole in March but is now being sold in two parts – to satisfy the two types of buyers that came forward during that campaign. Lot A is spread over 101.5 hectares on the corner of Northwood Road and Johnsons Lane and is fitted out as a superior grade thoroughbred facility with stables, a 100-metre horse walker, vet facilities, an office, billabong and 1400 metre sand training track. Homes for the owner and manager, as well as work cottages are offered in Lot A which is expected to sell for about $3 million [...] A MAJOR residential development site near central Wallan has sold to Sydney-based property group, Oracle Estates, for a speculated $14 million. The 40.3 hectare former farm extends from the north-west corner of Rowes and Taylors lanes, through to a new housing estate which is also accessed by Taylors Lane, and the Northern Highway. The property is about two kilometres from the Hume Freeway, a proposed major retail centre and the Wallan train station. [...] MIRVAC was one of many land owners celebrating the State Government’s decision last month to substantially extend Melbourne’s Urban Growth Boundary. The announcement paves the way for Mirvac, with Malaysia based joint venture partner Jayaland, to develop its largest master planned Victorian community in the western suburb of Rockbank, near Melton, about 28 kilometres from town. Mirvac chief executive officer Victoria John Carfi said the company was delighted with the government’s decision, and that it will now work with the Growth Areas Authority and the Melton City Council to work through a new planning process. [...] THE list of farmers who have become instant millionaires as a result of government planners needing land for housing, has grown. This time, in the western suburb of Wyndham Vale, 35 kilometres from town, a private family has achieved a price of $6.5 million from the sale of its 12.1 hectare farm. Wyndham Vale is in Melbourne’s first home buyer heartland. The farm, at the north-east corner of Ballan Road and Wollahra Rise, opposite the Manor Lakes Shopping Centre, is expected to be redeveloped into a major housing estate. [...] BOUTIQUE builder R.Corporation has purchased its first major development site since the 2008 economic downturn, and is said to be planning a $150 million-plus mixed use village which would be amongst the biggest projects in the developer’s portfolio. The South Yarra based developer, headed by Andrew Rettig, is understood to be paying about $20 million, sources estimate, for a vacant four hectare site at 98 – 116 Cavanagh Street in Cheltenham, 20 kilometres south east of town. R.Corporation is reputedly planning to replace the site with a mix of shops, offices and apartments. [...] BOUTIQUE builder R.Corporation has purchased its first major development site since the 2008 economic downturn, and is said to be planning a $150 million-plus mixed use village which would be amongst the biggest projects in the developer’s portfolio. The South Yarra based developer, headed by Andrew Rettig, is understood to be paying about $20 million, sources estimate, for a vacant four hectare site at 98 – 116 Cavanagh Street in Cheltenham, 20 kilometres south east of town. R.Corporation is reputedly planning to replace the site with a mix of shops, offices and apartments. [...] |
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