Greenvale farm collects over $90m from Jinding
Jinding is paying c$95 million inclusive of GST for a Greenvale farm capable of yielding about 400 housing lots.
The 29.06 hectare parcel, 1240 Mickleham Road, is the southernmost site covered by the Craigieburn West Precinct Structure Plan, which is due to be approved soon.
About 22.97ha is developable for low density residential.
Another 3.5ha, fronting Dunhelen Lane, is allocated for a government school while 1.2ha, incorporating the historic Dunhelen homestead, is earmarked for a community facility.
The land abuts the 68.4ha Aitken Hill conference centre which HB Land acquired for $142m early last month with plans to repurpose with residential.
The Mickleham Rd site also neighbours Peet’s Aspect housing estate, which is taking shape in stages.
RPM’s Zaynoun Melham and Christian Ranieri marketed the property which had an initial guide of c$80m.
Greenvale’s median house price is $815,000 according to REA Group, up from $550,000 10 years ago.
Also today we are reporting Jinding is paying a speculated $40m for a 29.2ha parcel at Wollert, abutting its The Patch estate (story continues below).
Jinding buys again
Led by Liz Ronson – who previously held senior positions with Peet, Villawood and Mirvac – Jinding has recently been boosting its development pipeline.
In September we reported the group outlaid $32.25m for a 60ha ex-farm at Kilmore – about 40 kilometres north of Greenvale. On the corner of Quinns Rd and Tottle Street, that property is earmarked for a c550-lot housing estate.
Twelve months ago the developer, with Yolk Property Group and the Harkness family, broke ground on a 94ha Armstrong Creek community – Harriott, which is expected to accommodate 659 dwellings.
In 2019, the group paid Wolfdene $28m for a 29ha parcel at Junction Village – near central Cranbourne.
Jinding also recently made its maiden Queensland investment – a 1012 square metre Surfers Paradise site which cost $4.6m – with plans for a 27 storey apartment building.
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