Melton – realestatesource

ADMINSTRATORS for defunct western suburb private college Mowbray are likely to recover just half of the school’s $18 million debts from the sale of its three campuses alone.

In what is described as a complicated sale campaign in which value will depend on potential land usage and in particular if the sites can be rebuilt as residential projects – the three school campuses are speculated to be worth a total of about $9 million.

The largest school – the 17.75 hectare Patterson campus in Melton is expected to sell for about $6 million, according to sources. Two smaller campuses in Caroline Springs, including the 1.25 hectare Residential 1 zoned Town Centre Campus at 183-191 Caroline Springs Boulevard, and the 1.06 hectare Brookfield campus at 5 Stevenson Crescent are expected to each reap about $1.5 million.

National

Devine Limited Goes on Spending Spree

March 6, 2011 Marc Pallisco Brisbane Development Site Sale, Devine, Melbourne Residential Development Site Sale, Melton, Teneriffe

QUEENSLAND based Devine Limited has purchased a 107-unit apartment complex in the fringe Brisbane suburb of Teneriffe, and a 22

Victoria

Melbourne’s Newest Suburb is Rezoned: Taylors Hill West

October 27, 2010 Marc Pallisco Caroline Springs, Melbourne Rezoning, Melton, Planning Minister, Plumpton, Rockbank, Taylors Hill West

HAVING built a freeway to Caroline Springs to help ease newfound traffic congestion, the government has now rezoned a major tract of western suburb land to make more efficient use of the existing infrastructure.

Planning Minister Justin Madden this week approved for the residential redevelopment of 220 hectares abutting the north-western edge of the fully developed Caroline Springs housing estate, about 23 kilometres from town.

The affected land is bordered by Beattys Road to the north, Taylors Road to the south and high voltage transmission lines to the west.

Victoria

Melbourne’s Newest Suburb is Rezoned: Taylors Hill West

October 27, 2010 Marc Pallisco Caroline Springs, Melbourne Rezoning, Melton, Planning Minister, Plumpton, Rockbank, Taylors Hill West

The affected land is bordered by Beattys Road to the north, Taylors Road to the south and high voltage transmission lines to the west.

Victoria

More Farmers Become Millionaires As Government Needs Land For Housing

July 13, 2010 Marc Pallisco Eynesbury, Manor Lakes, Melton, Tarneit, Wyndham Vale

THE list of farmers who have become instant millionaires as a result of government planners needing land for housing, has grown.

This time, in the western suburb of Wyndham Vale, 35 kilometres from town, a private family has achieved a price of $6.5 million from the sale of its 12.1 hectare farm.

Wyndham Vale is in Melbourne’s first home buyer heartland. The farm, at the north-east corner of Ballan Road and Wollahra Rise, opposite the Manor Lakes Shopping Centre, is expected to be redeveloped into a major housing estate.

Victoria

Developer Pays $90 Million For 256 Hectare Melton South Site

March 22, 2010 Marc Pallisco affordability, Melbourne development site sale, Melton, Melton South

A DEVELOPMENT parcel in Exford Road, Melton South, has sold to Geelong-based developer Peter Mortimer for about $90 million.

The 256 hectare site on Exford Road includes 186 hectares of developable land, according to the AFR which reported the deal today.

Two primary schools and 13 hectares of recreational space are also earmarked for the site, as is a new town centre, community space and 3100 new dwellings.

Victoria

Planning Strategy Affecting 2400 Hectares Between Caroline Springs and Melton Being Formalised, Tenders Called

March 15, 2010 Marc Pallisco Burnside, Caroline Springs, Green Wedge, justin madden, MAB Corporation, Melbourne @ 5 Million, Melbourne Outer Ring Road, Melton, mirvac, Rockbank, Stockland, Toolern

THE FORMER “thoroughbred country” of Melton is a step closer to becoming part of metropolitan Melbourne, with the council formalising a major planning strategy affecting 2400 hectares of vacant land – effectively creating two new suburbs and allowing for the area’s population to more than double within 15 years.

The affected land between Paynes Road at Rockbank (some 30 kilometres from town) and Toolern Creek, at Melton South (40 kilometres away) is proposed to make way for two new activity centres, shops, offices, a new train station, and low, medium and high density residential.