Stockland Sells South Yarra Development Site at a Loss

Local outfit Little Project Development purchased the site, after a campaign managed by Jones Lang LaSalle’s Steven Messina. LPD is building another apartment skyscraper, Ilk, at 227 Toorak Road around the corner.

Stockland is increasingly focussing on suburban residential developments instead of flats, and is building an impressive long-term land bank of housing supply, especially in Victoria.

State and federal governments allow Stockland, an ASX listed company, to release these outer suburban blocks in stages and at huge prices despite housing affordability being a major, growing issue for buyers today.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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