Major Industrial Development Sites in Truganina Expected to Fetch $12 Million

RECEIVERS for the owners of a versatile 555-hectare Truganina property, the largest asset measured by area to hit the market last year, are selling down the property in smaller chunks.

After failing to sell for a total $100 million in separate campaigns in 2010, and 2011, four industrial development sites, each measuring about 42 hectares are now for sale, in a campaign being managed by Biggin Scott Commercial’s Andrew Egan and Frank Nagle.

Accessed via Hopkins Road, the blocks are expected to sell for about $3 million each.

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Truganina South Melbourne’s Newest Suburb

A NEW Melbourne suburb, 19 kilometres south-west of town, has been unveiled.

Truganina South will be developed on a 250 hectare block of land near Hoppers Crossing and in the council area of Wyndham which was recently identified as the country’s fastest growing.

Planning minister Matthew Guy (pictured, right) launched the suburb bound by Leakes, Palmers and Sayers roads, and, traveling west, farmland on the way to Derrimut Road.

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UGB Changes Great For Truganina Sale Campaign

Truganina siteTHE 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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