Peet replenishes in Wollert
In Wollert’s second major housing estate deal this quarter, Peet Limited is paying a speculated $30 million for the balance of the Mystique community (outlined, top).
The 25.75 hectare Craigieburn Road parcel is earmarked for about 300 lots.
The vendor, Greencor, has in recent years sold down 250 plots as part of the project.
Elsewhere in the suburb, in July, Oreana Property Group picked up a 27ha housing site – 195 Boundary Rd – with the potential to be subdivided into about c559 parcels.
Nine months ago, Cedar Woods outlaid $30m for a 21.7ha farm abutting its Mason Quarter estate.
AVID, Bauenort, Dahua, Evolve and Jinding are other major developers in the area, about 27 kilometres north of Melbourne.
Also today we are reporting Peet sold a Craigieburn retirement village site to New Zealand’s Summerset Group for $30m (story continues below).
Peet replenishes
Core Projects’ Kane Malcomson, Chris Jabs and Trent Malcomson said 15 offers were received for the Mystique land, without disclosing a sale price.
“The off-market campaign [was] highly contested with many developers relishing the opportunity to purchase an established and trading estate within the highly sought after Wollert precinct,” Kane Malcomson added.
Earlier this week, the agency listed a 28.2ha block at nearby 65 Bodycoats Rd with the potential to make way for more than 250 dwellings and a school.
According to REA Group, Wollert’s median house price is $590,000 – up from $411,000 in 2015.
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