Jinding Developments has snapped up another site on Melbourne’s outskirts with plans for a low density housing estate.
At Quinns Road, on the south east corner of Tootle Street, Kilmore, the 60 hectare ex-farm is costing $32.5 million.
A c550-lot subdivision is planned, with construction of the first dwellings expected next year.
“We are very pleased with the site” Jinding managing director Liz Ronson said.
“It suits our mandate to continue to grow our land portfolio in Victoria with quality sites,” the executive added.
In 2019, the developer paid Wolfdene managing director Michael Goldthorp and investment partners, $28m for a 29ha housing estate site at Junction Village, about 45 kilometres south east of Melbourne.
Earlier this year, Jinding acquired a 1012 sqm Surfers Paradise site, 9-11 Thornton St, from GV Property Group, for $4.6m.
That parcel – the group’s first in Queensland – is earmarked for a 27-storey apartment building (story continues below).
Melbourne sprawls north
Still considered a regional town, Kilmore, about 65 kilometres north of the CBD, is popular with buyers and renters who work in Melbourne’s north.
It is about 12km north of Wallan, which has formed the top of the city’s Urban Growth Boundary since the release of Plan Melbourne 2017-2050 four years ago.
Significant development is earmarked for Beveridge – about 8km south of Wallan – including an intermodal facility planned by Qube.
In May we reported Stockland outlaid $125m for a 140ha housing estate site in that suburb.
Seven months ago, Sino Hospitality Group and the Scerri family paid descendants of Sir Cecil Looker c$100m for a 434ha plot – almost half (200ha) which is zoned for commercial construction.
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