VicRoads to Sell Major Craigieburn Residential Development Site
VICROADS – whose days headquartered from dank offices in one of Melbourne’s ritziest suburbs are reportedly numbered – is expecting some $15 million from the sale of a 31.3 hectare residential development site on what is now Melbourne’s northern outskirts, but will soon be considered a middle-ring suburb.
The Craigieburn site with a street address of 650 Hume Highway, is spread over two sides of the recently opened Hume Freeway*, which connects commuters to the Western Ring Road and the CBD in one direction, or the Metropolitan Ring Road, and a Greensborough traffic jam at the other.
The Melbourne-Sydney railway line dissects the southern edge of both VicRoads sites, some 25 kilometres from town.
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SYDNEY-based Stockland Limited has committed to paying $300 million for a 1,121 hectare development site north of Melbourne, reportedly Australia’s largest ever individual land transaction.