Developer swoops on Melton farm
An established developer has snapped up a low density housing estate site at Deanside, one of 11 suburbs created by the City of Melton in 2017 to deal with mushrooming population growth.
The 11.26 hectare rectangle shaped farm – 65 Gray Court – is speculated to be trading for c$24 million.
Zond Urban Growth, within the approved Kororoit Precinct Structure Plan, it could presumably accommodate over 200 dwellings, more if the lots are compact.
Nelson Alexander Commercial’s Kristian Lunardi and Jonathan West were the agents.
The deal comes five years since AFL player turned developer Andrew Welsh’s Wel.Co sold a 3.5ha block neighbouring 65 Gray Court to the state government for a school (then with an interim name of Grasslands Primary).
In 2021 meanwhile, Central Equity outlaid $58m for a 29.94ha block in the suburb – 137-235 Sinclairs Road – since last year, marketed as estate, Monarch Deanside.
The City of Melton is Victoria’s second fastest growing municipalities.
This pocket of Deanside is about 33 kilomtetres from town.
More to come.
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