Mernda Archives - realestatesource

IT has been another busy week in Melbourne’s outer north, with one company announcing a major $45.8 million acquisition of a residential development site in Craigieburn, and another launching a $60 million housing estate in nearby Mernda.

In the biggest deal, Sydney-based developer Stockland has acquired a 100 hectare development site abutting its hugely successful Highlands development, about 35 kilometres north of town.

The acquisition is the latest in a string for Stockland, which in February paid $58 million for two sites totalling 117.4 hectares in Wollert, not far from Craigieburn.

Victoria

Stockland Pays $58 Million For Two Major Development Sites, Melbourne

February 14, 2010 Marc Pallisco Craigieburn, Epping, Evolve Property Development, investa, Melbourne Residential Development Site Sale, Mernda, Stockland, Wilbow, Wollert

SYDNEY-based developer Stockland has paid about $58 million for two major residential development sites in Melbourne’s outer north.

In the same week the company announced it would focus less on developing apartments, and more on providing low density housing, the group announced two separate land purchases, of 52.4 hectares, and 65 hectares, in Wollert, about 25 kilometres from town.

Stockland is expected to yield 1100 housing lots from the sites, giving it exposure to Melbourne’s burgeoning Epping growth corridor for some years.