National Resources Conservation League lists $20 million-plus Cranbourne West building block
National Resources Conservation League is selling a 9.2 hectare Cranbourne West development site being encroached upon by housing estates.
The 76-year old not-for-profit vendor can expect more than $20 million, sources say, for 950 Western Port Highway – part of a former nursery.
Opposite both Ranfurlie Golf Club and a 22 hectare tract of land NRCL intends at the moment to keep – the parcel has the potential to be replaced with about 180 dwellings with an average lot size of about 350 square metres.
A retirement village or housing estate comprising townhouses are other development outcomes.
Biggin & Scott Land’s Andrew Egan and Frank Nagle are representing NRCL, which is hoping to find a buyer willing to prioritise sustainability in any redevelopment.
The agents said the location, abutting parkland and the golf course, would make it appropriate for a housing estate targeting “the more established second home buyer market”.
NRCL is hoping to develop and possibly integrate any private sector development with a sustainable housing initiative it is intending for the balance of the nursery site which it will retain.
Cranbourne West – the subject of a government Precinct Structure Plan – is about 43 kilometres south east of the Melbourne CBD.
Major developers in the suburb include Wolfdene, which is constructing the Brompton housing estate across the road from the NRCL holding.
Two Perth-based groups: ASX listed Peet Limited and the privately owned Satterley – also have Cranbourne West projects underway.
Brown Property Group, the construction company of ex-Carlton footballer Fraser Brown, is replacing a 48 hectare Cranbourne golf course he bought for $40 million in 2015 with a housing estate, Canopy at Amstel.
