Brown Property Group picks up another Clyde site

Also today we are reporting Stockland has paid $82m for a Tarneit housing site.

Brown Property Group is speculated to be paying over $230 million for another housing estate site, in Melbourne’s south east Clyde.

The former Di Rienzo Fresh Produce farm covers 115.75 hectares at 1755 Ballarto Road, also known as 30 Tuckers Rd.

Brown Property Group recently completed a 900-lot housing estate, Highgrove, at Clyde North.

It could make way for more than 1500 housing lots, sources say.

Led by ex-footballer Fraser Brown, the group has been one of the region’s most active developers; in March it became a key sponsor of the local Casey Demons VFL team.

Last July, in Clyde, the builder launched the Riverfield estate (artist’s impression, top) – it is now marketing the seventh stage of that project.

Growth corridor

Clyde is within a growth corridor about 48 kilometres from the city.

In neighbouring Clyde North, Brown Property Group is constructing the Meridian housing estate; in a show of how fast values have moved in the pocket, the developer in 2014 paid $14m for a 41.4ha slice of the land making way for that community.

At Cranbourne, about five kilometres from Clyde, the company six years ago paid $40.1m for the 48ha ex-Amstel Golf Club, at 1000 Frankston-Dandenong Rd.

That parcel is now being replaced with a housing village, Canopy at Amstel.

The developer has also completed south-east estates at Cranbourne North, Lyndhurst, Lysterfield and Narre Warren South (story continues below).

Brown Property Group representatives have not responded to a request for comment.

Developers moving in

Elsewhere in the area, last September, Stockland outlaid c$180m for a 130.7ha Clyde North site, abutting its Edgebrook estate.

Not long earlier Frasers Property Australia teamed with a land owner to replace a 116.3ha former dairy farm in that suburb with a c1600-lot residential community.

That project will also contain a 6000 square metre town centre.

In 2019, Goldfields acquired a 71ha Clyde North holding from the Grossi family for c$105m.

That property, 275-285 Pattersons Rd, has the potential to be subdivided into over 1000 housing plots.

In Devon Meadows, about five kms south of Clyde, MAB Corporation last year paid $37.5m for a 32ha parcel expected to yield 500 plots.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of