Liberman family snap up Melbourne housing estate site
Monark Property Partners, backed by the Liberman family, and Resolution Property Group, have snapped up neighbouring blocks north of Melbourne with plans for a 275-lot housing estate.
The 15.26 hectare parcels, 800 and 820 Somerton Road, Greenvale, are costing $44 million.
The vendor outlaid $41.97m ex-GST in mid-2023, settling two months ago – a deal brokered by Melbourne Acquisitions’ Dominic Gibson.
It is a second joint venture for the buyers, with another project, Harli, across town in Cranbourne West.
That project will yield 181 lots.
Major village planned
The Greenvale land, falling under the Somerton Road Precinct Structure Plan, is expected to accommodate product worth c$135m.
The deal comes two months since a 101ha block in the suburb, covering 1125 and 1165 Mickleham Rd – zoned Green Wedge but abutting the Urban Growth Boundary – sold after six months on the market. This pocket of the suburb, which abuts Craigieburn, is about 25 kilometres from town.
Subscribe to our newsletter at the bottom of this page.
