Dahua Group has paid $78.65 million for a residential development site in Melbourne’s north-west.

The deal for the 43.47 hectare block at 13-15 Diggers-Rest-Coimadai Road, Diggers Rest, marks a reversal of strategy for the Chinese developer which four years ago was selling down its local portfolio.

The seller was Prime Equity Group which in partnership with Homes for Homes in 2021 proposed a c340-lot lifestyle village.

Also with a clubhouse, swimming pool, gym, cinema and communal facilities, that plan was met with community objection.

Melbourne Airport also opposed, via then-planning minister Richard Wynne, claiming the project could jeopardise its curfew-free status.

With that claim later withdrawn, the scheme progressed to allow a residential-based subdivision with 800-900 lots.

The net developable area is 36.39ha.

Site set for development

Also including 23 Tame St, the Diggers Rest property is exempt from Development Contribution & Growth Areas Infrastructure Contributions.

It is also Cultural Heritage Management Plan approved (continues below).

LAWD’s Peter Sagar and Paul Callanan were the agents.

Diggers Rest is about 33 kilometres from the CBD.

Another major land deal

The Dahua deal comes a month since realestatesource.com.au reported the Baillieu family was selling a 35.44ha piece of its Minta Farm at 100 and 118 Soldiers Rd, Berwick.

The land was promoted for residential subdivision, medium-density housing and townhouses.

Stockland is the buyer for a speculated $100m-plus.

Meanwhile near there, at Clyde, Mirvac and Thailand-based Supalai outlaid $40.9m to expand the abutting the Smiths Lane housing estate.

Also recently, Resimax Group’s Ozzie Kheir bought Japanese property giant Mitsubishi Estate Asia in as a 50 per cent partner in the $2 billion Eynesbury estate in Melbourne’s west, where more than 4,500 homes are planned along with a retail hub.

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The Baillieu family is speculated to have sold another piece of Melbourne’s historic Minta Farm.

The $100 million-plus deal comes a decade since Stockland acquired a larger section of the estate, five kilometres from the Berwick town centre and three kilometres from Beaconsfield train station.

Covering 100 and 118 Soldiers Road, Berwick, the land said to be just-disposed spans 35.44 hectares.

A marketing campaign launched earlier this year, branding the site Minta Farm – Wattle Hill, promoted it as an “ultra prime” infill opportunity with potential for premium residential lots, medium-density housing, townhouses and integrated open space.

Williams Sharp Commercial was the agent.

More of Minta Farm sold

Part of Soldiers Rd amalgamation is walking distance to the future Minta mixed-use town centre and employment precinct, which Stockland will deliver.

Minta Farm been associated with the Baillieu family for almost a century – Marshall Lawrence Baillieu acquired it in 1931, passing it to his son Ian Marshall Baillieu.

It originally comprised about 285ha – also the area council planners have classified it as, as a strategic urban renewal site (continues below).

In 2016, Stockland agreed to acquire about 114ha from the Baillieu family.

That transaction was reported to have been worth c$150m.

The broader Minta Farm precinct – the 285ha – is planned to accommodate c8500 people in about 3050 homes.

The commercial precinct is expected to employ c11,450 people.

This part of Berwick, part of the Pakenham growth corridor, is about 50 kilometres from the CBD.

More to come.

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Mirvac and joint venture partner Supalai have bolstered the footprint of a Melbourne housing estate taking shape in stages for over a decade.

The partnership has paid $115 million for a 40.9-hectare parcel abutting the master-planned Smiths Lane project.

That 260ha component was itself accrued in pieces.

In 2021 realestatesource.com.au reported a 30ha slice cost $70m.

Mirvac launched the project on a 240ha holding acquired from the local Smith family in 2011.

Thailand-based Supalai bought into the project structure via Gersh Investment Partners in 2022.

The partnership also this week sold a waterfront Geelong site – part of a project replacing the Rippleside Saleyards – for $8.3m.

Estate extends…again

In its 260ha configuration the site was expected to yield c3200 dwellings in product with an end-value circling $1.3 billion.

About 7500 residents would have called it home.

The final land release was scheduled for the 2029 financial year (continues below).

Last year, Mirvac sold a retail development site in the estate to Coles.

This pocket of Clyde North is about 46 kilometres south-east of Melbourne’s CBD, part of the Pakenham growth corridor.

Also today realestatesource.com.au is reporting the Baillieu family sold another piece of the Minta Farm at Berwick, abutting a housing estate Stockland has been developing since 2016.

Growth corridor

The deal comes about 18 months since Dahua Australia listed 75 McCormacks Road, Clyde North (pictured, top).

Dahua paid $104.34m in July 2021, just months after SightStone settled on its 2017 purchase for $45.58m.

The site was approved for about 737 residential lots.

Last year’s campaign carried a c$140m guide.

The holding sits within the McPherson Precinct Structure Plan, approved in December 2018 and gazetted in January 2019.

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A housing estate in the planning system for eight years will finally take shape with the site selling to developer Homecorp for $30 million.

The 25.22 hectare parcel, 639 Redbank Plains Road, Redbank Plains, will make way for 193 homes across six stages.

Dwellings will be configured as townhouses, dual-occupancies and four-bedroom standalone homes.

The estate’s end-value has been estimated at $90m.

Construction is expected to start next year.

Redbank Plains is about 35 kilometres south-west of Brisbane.

It is 12km east of Ipswich (continues below).

Century Estate

Led by Ron Bakir, HomeCorp is already behind two communities in the suburb: Greenwood Village and Cedar West.

The latest project will be branded the Century Estate.

The site has an agricultural history – identified as Turf Farm House in an Ipswich heritage study undertaken in 1991.

It also formed part of a larger parcel in 2018 earmarked for a 345-lot subdivision downsized to 263 in 2020.

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The state government has found a buyer for a 3.55-hectare Brisbane growth corridor site marketed for its potential to yield c500 dwellings – a mix including apartments and small-lot housing.

Instead the new owner, Azure, will significantly downsize that scheme, this week lodging plans to replace 35 University Drive, Meadowbrook, with 145 terraces.

Next to Griffith University’s Logan campus, the property was offered last year by Economic Development Queensland as a “shovel ready” medium-density development building block.

As part of the deal, the government will construct enabling infrastructure.

The deal comes a week since realestatesource.com.au reported Azure paid $9.5 million for a Cleveland site offered for the first time in 120 years.

It has also lodged plans to replace the holding with 36 dwellings.

Azure is also completing a $72m project, Oakmont, at Brookwater.

Meadowbrook is about 28 kilometres south-east of Brisbane.

Resort-stye project planned

Azure’s University Dve proposal also includes a swimming pool, lounging areas and landscaped gardens.

Founder and managing director Trent Kiernan said the project will add a new type of residential product to the suburb (continues below).

“Meadowbrook has enormous potential but there is currently a clear gap in the market for contemporary, design-led terrace housing,” according to the executive.

“It is an area that enjoys green surrounds, a well-established suburban character and excellent connectivity to both Brisbane and the Gold Coast, but the existing residential market is dominated by older detached homes and lower-quality townhouse developments,” he added.

“Our vision is to create a secure, highly livable community that combines considered architecture, quality landscaping and shared amenity with the convenience of low-maintenance living”.

Most townhouses will contain three bedrooms.

“The proposed development…is expected to appeal to young professional couples, small families, local upgraders and employees working within Meadowbrook’s established health and education precincts with both Logan Hospital and Griffith University, Logan Campus, on your doorstep,” Mr Kiernan said.

“The project will be positioned within the high-demand sub-$1 million market, providing buyers with an opportunity to secure a new, architecturally considered home without the price point typically associated with detached housing in increasingly constrained south-east Queensland markets,” according to the executive.

“Meadowbrook is continuing to evolve and we believe this site is exceptionally well placed to contribute to that next chapter,” he added.

Dwellings are expected to be put to the market early next year.

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Broadview has quietly acquired a six hectare residential development site at Cockburn Central, south of Perth.

The company is paying $17.5 million for 178 and 196-236 Muriel Court, the latter sold by Shineton Australia

The holding sits within an urban renewal precinct subject to a structure plan.

Broadview is intending a master-planned estate.

The project, it said, would make it the City of Cockburn’s largest single private residential developer based on proposed dwelling numbers; with the new site it is planning some 1000 homes (continues below).

The deal comes a year since realestatesource.com.au reported German waste manager Remondis paid $16.25m for a 4.7ha industrial site at nearby 49 and 53 Cutler Road, Jandakot, opposite land it already owned.

The parcels were bought to provide expansion room for its Western Australian operation.

Coburn Central is 22 kilometres from Perth’s CBD.

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One of Melbourne’s highest-profile properties – and unusual investments – has been listed for sale by the family of late VFL star Albert Mantello.

The Cremorne car park with two digital billboards – one beside the Nylex clock exposed to both directions of the Monash, near the Punt Road interchange – carries $14 million-plus hopes.

The combined annual income is $1.16m with fixed annual rent reviews.

The property also has development upside, permit-ready for an 11-level, 96-room hotel with a wraparound digital display – providing continued billboard income.

Big earner

The highest-profile component of 1-3 Harcourt Parade, Cremorne, is the larger billboard.

Measuring 18.95 metres by 5.3 metres to two sides, up to 470,000 vehicles pass it a day.

The smaller sign, exposed to southbound traffic on Punt Road at the busy Monash Fwy entrance, spans 9m x 3m.

Both are rented to Nine Entertainment’s Q-Media, trading as QMS Media, which commenced a 10-year lease in May with two five-year options.

In year one, the bigger billboard will earn $929,000 while the smaller will collect $150,000,

Meanwhile the car park with 17 bays, with the potential to increase that by one, is leased to Secure Parking for 11 years (continues below).

Annual net rent is $77,250.

Hotel with billboard income

The site is walking distance of Melbourne Park, AAMI Park and Richmond station.

“The income works now,” Aston Commercial’s Fred Nucara, who is marketing 1-3 Harcourt Pde with Jeremy Gruzewski, said.

“The signage and car park income stands on its own — a buyer doesn’t need to build anything to get a return,” according to the executive.

“The sign also doesn’t go away…the hotel design was built around the signage, not in spite of it – the digital sign is incorporated into the building facade, meaning the same income stream that funds the asset today can keep funding it inside a redeveloped, higher-value building tomorrow,” he added.

Mr Gruzewski said the hotel approval gave the purchaser flexibility around when, or whether, to develop.

“The hotel is optional, not obligatory,” according to the executive.

“When construction economics and Melbourne accommodation demand line up, the permit is sitting there ready,” he added.

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Tim Gordon has teamed with pub and retail billionaire Bruce Mathieson to buy one of the last major town centre development sites in Greater Springfield.

The 12.7 hectare lot on Sinnathamby Boulevard, Springfield Central, cost $50 million from Springfield City Group, following an off-market deal.

Retail, commercial and other town centre uses are planned.

Gordon Corp and Mathieson have previously co-invested in large-format retail and commercial property.

“The strength and versatility of the partnership between the Gordon and Mathieson families is evident across two very different Gold Coast developments: The Mantaray Marina and Residences, a $400 million waterfront mixed-use precinct on The Spit, and Elle on Jefferson, a highly considered collection of house-sized residences in Palm Beach,” Mr Gordon said.

“The market response to The Mantaray and Elle is testament to the quality and diversity of what we can deliver together,” he added.

“Each project responds to a very different market and setting, yet both reflect the same ambition to lift the benchmark. Springfield gives us the opportunity to apply that approach at an entirely new scale,” according to the executive.

What is planned

Founded by Maha Sinnathamby, Springfield City Group has progressively sold development sites as Greater Springfield matures into one of Australia’s largest privately developed urban communities.

It was represented for the sale by Colliers’ Harry Dever and Lachlan MacGillivray, with Stonebridge Property Group’s Julian White and Philip Gartland.

The parcel was promoted as one of the largest remaining development opportunities within the 2860ha master-planned city.

“The Springfield site provided significant development opportunities ranging from retail and commercial to entertainment, leisure, and medium-density residential,” Mr Gordon said.

“Opportunities of this calibre don’t come along often, and the scale and positioning of the City West site gives us an opportunity to masterplan a mixed-use precinct in one of south-east Queensland’s fastest‑growing corridors, he added.

“Bruce and I share a strong appetite for A-grade projects where a clear vision and disciplined delivery can create something genuinely significant,” according to the executive.

“Our latest acquisition in Springfield City brings all of these elements together within a fast-growing, master-planned city capable of supporting mixed-use precincts of scale.

“This is a testament to the long-term vision and investment of Springfield City Group which has been a catalyst for billions of dollars in social and physical infrastructure investment.

“For us, that speaks to a city that is not only growing but maturing in a very deliberate and sustainable way.

“We’re not focused on one particular asset class but the scale of the opportunity, the quality of the outcome and the speed with which each project is advanced.

“The site provided significant development opportunities ranging from retail and commercial to entertainment, leisure and medium-density residential. 

“The first precinct to be delivered in the town-centre zone is a 10,581 square metre retail and lifestyle hub called Springfield Village…planning and leasing is now well underway (continues below).

“Springfield Village is on track to open mid-2029 and will be anchored by a Coles supermarket and Liquorland, alongside a mix of specialty and fresh food retail, dining, and allied health services.

“It forms part of a larger 30,000sqm retail precinct on the town-centre site, with early commitments from national and international brands including McDonald’s, The Good Guys, Banjos Bakery, Pillow Talk, Auto Masters, Hungry Jacks and a 7-Eleven service station.”

Future precincts would be unveiled in the coming months and will include more major retail brands alongside residential, entertainment and lifestyle-driven amenities”.

Springfield City Group founder and chairman, Maha Sinnathamby AM, said Springfield City Group was pleased to partner with Gordon Corp and the Mathieson family on the development of its premier City West site.

“We are delighted to partner with Gordon Corp as we are confident they will deliver a development of the highest quality that will make a meaningful and lasting contribution to Springfield City and the broader region,” he added.

“Springfield City Group has carefully stewarded the City West opportunity for more than 30 years, ensuring this premium site was brought to market at the right time and under the right conditions to realise its full long-term potential,” according to the executive.

“A key priority throughout the process was securing a development partner whose vision and values aligned with Springfield City Group’s long-term objectives and commitment to delivering a project of enduring significance for the region.

“The campaign attracted strong market interest and ultimately resulted in the selection of Gordon Corp. Their vision, proven capability and alignment with the strategic objectives for the site set them apart throughout the process.

“Springfield City is home to more than 55,000 residents, 12 schools, 22 childcare centres and the University of Southern Queensland.

“Its Health Hub, developed in consultation with Harvard Medical International, features world-class health facilities, including the recently opened Mater Hospital Springfield.

“With Springfield City’s population forecast to grow by 3.6 per cent annually through to 2036, almost double Brisbane’s growth rate, demand for retail, commercial and residential development is expected to remain strong.

“The sale and future development of City West will unlock a new wave of investment and economic activity in Greater Springfield while delivering additional amenity, jobs and opportunities for this rapidly growing region.

The development would further strengthen Springfield City’s position as Australia’s leading master-planned city and a major destination for investment, employment and lifestyle, Mr Sinnathamby said.

Central West is in one of south-east Queensland’s fastest-growing corridors, about 35 kilometres south-west of Brisbane’s CBD.

Biggest town centre deal since 2021

The deal is the priciest for a town centre zoned site 10 kilometres from any Australian CBD since 2021, according to the marketing agents, Colliers’ Harry Dever and Lachlan MacGillivray, with Stonebridge Property Group’s Julian White and Philip Gartland

It is also the largest transaction of its kind ever recorded in Queensland,” Mr Dever added.

“The campaign generated more than 200 enquiries and nine formal offers from private and institutional development groups nationally, highlighting the depth of capital seeking access to large-scale mixed-use development opportunities,” according to the executive.

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EXCLUSIVE

Steelmaker BlueScope has struck another surplus land deal – selling a major residential development site.

The 31 hectare parcel at Stream Hill, in the West Dapto Urban Release Area, in Wollongong, found favour with NEX Property which is planning more than 400 homes.

The ASX-listed vendor recently disclosed it agreed to sell a 33ha portion of its West Dapto holding for $76 million as part of its land monetisation program, with settlement expected in the second half of FY26.

While neither party identified the consideration in announcing the NEX acquisition today, it appears to be the same sale.

Stream Hill is 14 kilometres south-west of Wollongong’s CBD.

Major Wollongong development

BlueScope has been accelerating the sale and development of its 1200ha surplus land portfolio – the strategy intended to unlock shareholder value through outright sales, development partnerships and leasing initiatives (continues below).

NEX will lodge a development application in coming months.

At the corner of Paynes and Shaeffes roads, the estate will deliver a mix of lot sizes and housing through McDonald Jones Homes and Mojo Homes.

The acquisition comes as the Illawarra’s housing pipeline continues to expand alongside plans to redevelop former industrial land around Port Kembla.

The NSW Government late last year backed long-term plans to transform more than 400ha of former BlueScope and Port Kembla land into a major mixed-use precinct with capacity for thousands of homes.

More to come.

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The Roche family has sold one of Adelaide’s largest remaining coastal residential development sites.

Brisbane-based Urbex, the property development arm of the Power family’s BMD Group, is the buyer of Lot 4102 Burlington Road Hallett Cove, for more than $45 million.

The 11.99 hectare holding is bounded by Burlington and Sigma roads, and Fairbairn Drive, near the Adelaide desalination plant, came permit-ready for a 169-lot subdivision.

Low density residential parcels are between 194-1012 square metres.

Two super-lots are able to yield high density.

McGees Property’s James Juers and Simon Lambert were the agents.

The transaction continues the Roche family’s broader divestment of property assets; recent sales include a heritage-listed Rundle Mall building and a large Encounter Bay holding. as it restructures its property portfolio.

The deal comes four months since Urbex acquired a 3.71ha site at Sellicks Beach, where it is planning a project expected to deliver about 65 homesites.

Approved coastal pipeline

The General Neighbourhood-zoned Hallett Cove site connects with the Hallett Cove Headland Reserve and Coastal Walkway, about 175 metres from the coastline.

It is also near Hallett Cove Beach Railway Station, Hallett Cove Shopping Centre and established southern Adelaide amenities.

“The site’s stunning coastal location and shovel-ready status made for an unrepeatable opportunity to deliver a flagship community in one of Adelaide’s most desirable southern locations,” Mr Juers said (continues below).

“We received significant interest from local, national and international markets, ranging from residential developers to land lease community and lifestyle village operators,” according to the executive.

Mr Lambert added the location represented one of the remaining opportunities for large-scale coastal residential development in Adelaide’s south.

“This was one of the last remaining coastal locations for a land development in Adelaide’s south, and offered a generational chance to shape the future of a high-growth, high-demand region rich in lifestyle amenity, and bring much-needed housing to Adelaide and South Australia,” he said.

Hallett Cove is about 23 kilometres south west of Adelaide’s CBD.

Urbex expands southern Adelaide presence

Urbex recently acquired a 3.71ha site at Sellicks Beach, where it is planning about a c65 lot subdivision.

Founded in 1979 by Beverley Power, her husband Bevin, brother, Michael, and his wife, Denise, BMD describes itself as Australia’s largest privately owned civil contractor, delivering more than 2700 residential lots.

Over 40 projects have been in South Australia including at Mount Barker, Angle Vale, Aldinga and Riverlea.

The group has also delivered infrastructure projects in the state, amongst them, the Palmer Wind Farm and SA Water’s Pipeline Partner Program.

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