Stockland buys Melbourne housing estate site
Stockland has bought a permit-ready housing estate site in Melbourne’s north east.
The deal for the South Morang parcel – which we mooted in January and is now unconditional – is speculated to be worth c$120 million.
Covering 33.37 hectares, it is approved for a 387-lot subdivision, with blocks averaging 421 square metres.
There are also two medium density parcels with the potential to yield 200 dwellings and a 3600 sqm plot permitted for a commercial-based mixed-use project.
25 Hunters Road
The west boundary of the South Morang site, 25 Hunters Road, abuts the proposed Quarry Hills National Park (continues below).
The east boundary, along Plenty Road, is also near Hawkstowe train station.
Biggin & Scott Land’s Andrew Egan, Callum Williamson and Frank Nagle marketed the site as the final development opportunity of scale in the established corridor.
South Morang is about 20 kilometres from town.
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