Jinding buys Wollert site to expand estate

Also today we are reporting that Jinding is paying over $90 million for a Greenvale block (highlighted).

Jinding has snapped up a Wollert site next to its The Patch estate, which it starting building the infrastructure for in June.

The new block, 65 Bodycoats Road, is costing a speculated $43 million; the sale incurs no GST.

Spreading 28.17 hectares it has the potential to yield c250 lots.

The new Wollert parcel can accommodate c250 lots and a school.

Its western boundary is earmarked for a government school.

Core Projects’ Kane Malcomson and Chris Jabs were the agents.

The deal comes four months since Oreana picked up a neighbouring 27.63ha parcel, at the north west corner of Bodycoats and Boundary roads, with plans for a c559 lot subdivision.

The Patch is master planned with about 700 dwellings, a sports field, 2000 square metre retail precinct and community hub.

Also today we are reporting Jinding paying over $90m for a 29ha parcel at 1240 Mickleham Road, Greenvale – about 15 kilometres south west of Wollert (story continues below).

Wollert building up

Elsewhere in the suburb, last month, the Montalto family spent a speculated $15m for a 219ha Green Wedge zoned parcel with longer-term development upside: 795 Epping Road and the neighbouring 825 Epping Road, (Woodstock).

In September, Peet paid Greencor c$30m for the balance of the Mystique housing estate, in Wollert.

At the start of the year, Cedar Woods outlaid $30m for a 21.7ha parcel in the pocket, neighbouring a 43ha property for which it spent $56.65m in 2019; both properties are now being marketed as the Mason Quarter.

AVID, Bauenort, Dahua and Evolve are also behind residential projects in the suburb.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.