Australand Pays $11.9 Million For Nine-Hectare Rowville Development Site

AUSTRALAND has paid $11.9 million for nine hectares of business zoned land in the south-eastern Melbourne suburb of Rowville.

“If ever there is a sign that the market is looking more positive, its when you start to sell development sites,” Colliers International’s Barry Marks told the AFR, which reported the sale.

Anthony Maugeri, southern region manager for Australand, said the group would consider selling Stud Road land outright. It will also offer land and build-and-leasing packages.
Late last year it was reported Australand sold a major residential development site in Melbourne’s outer northern suburb of Wollert for about $35 million.

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