Satterley Property Group is speculated to be paying $68 million for another low density housing site in Melbourne’s outer north.
The 68.7 hectare block, 1100 Donnybrook Road, Donnybrook (pictured, top), is controlled by Ouson Group.
Any deal would come five years since the Perth developer, led by Nigel Satterley, paid Villa World $34m for the neighbouring parcel, 1030 Donnybrook Rd, which spreads a similar size (68ha) and is earmarked for a 1000-lot subdivision.
Last month we reported Ouson was negotiating to sell Stockland a 140ha tract at Beveridge, about 10 kilometres north of Donnybrook, for c$115m.
1100 Donnybrook Road, Donnybrook
The 1100 Donnybrook Rd land forms about 10 per cent of the (628ha) area set to be classified as Shenstone Park.
Of the 325ha which will be developable – 194ha is allowed for housing; the Victorian Planning Authority is anticipating that 10,200-11,300 residents will live there (story continues below).
Some 4500 people are set to work in a 131ha employment zone.
Satterley in Melbourne
Satterley has two active north Melbourne housing estates – Botanical at Mickleham and True North, in Greenvale.
The developer is also marketing two projects west of the city – at Tarneit and Point Cook.
In April, the company paid $11.26m for a 3.56ha Urban Growth 1 zoned site adjoining its Arcadia community, which is nearing completion, in south east Officer.
A Satterley spokesperson declined to comment about a Donnybrook deal when contacted.