Developer snares former Keysborough farm following short off-market campaign

A former Keysborough farm – now surrounded by sealed roads and housing estates – has sold to a local developer for an as-yet-undisclosed sum.

The 2.1 hectare rectangle shaped block at 152 Stanley Road was last on the market in late-2017 (see images top and bottom), when it was reported as trading for $16.1 million.

Colliers International’s Joe Kairouz, Hamish Burgess and Jun Lai were appointed by the vendor to market it again four weeks ago.

The agents’ off-market expressions of interest campaign attracted six first round offers.

The parcel was offered with a permit for a 40-lot residential subdivision.

It is surrounded by new housing estates, including Newland’s Elmswood and Somerfield – being developed by Intrapac, the construction consortium comprising Melbourne’s wealthy Smorgon and Scanlon families.

Exclusive private college Haileybury operates a campus at Keysborough – which is about 27 kilometres from the Melbourne CBD.

Interestingly, 152 Stanley Road attracted interest from a variety of buyer types other than home builders.

The Keysborough block size is one popularly sought by aged care accommodation providers: c200-suite complexes can usually be built on two-hectare parcels within most council planning guidelines.

This particular site is on the same block as Sirius College, less than three kilometres from the Parkmore Shopping Centre and an Eastlink onramp.

Aspendale, Edithvale and Mordialloc – all suburbs with beaches – are about eight kilometres from 152 Stanley Road.

The site at 152 Stanley Road, Keysborough, is surrounded by new housing estates.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco
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