Golden Group Pays $36 Million For 64 Hectare Tarneit Development Site, Melbourne

FOR Melbourne’s newest millionaire farmer, the west has proven lucky in more ways than one, with Perth-based development giant Golden Group revealed as the buyer to pay $36 million for the Tarneit farm once known as Shanahans House, and later, Wyndham Park.

The 64 hectare estate, some 28 kilometres of town at 1070 Sayers Road, was one of the first major farms publicly listed for sale after the former state government significantly expanded Melbourne’s Urban Growth Boundary by some 46,000 hectares last June.

That expansion, which built on a 23,000 hectare expansion a year earlier, allowed for new homes to be developed on what was previously Green Wedge land, parkland and rural zoned properties.

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First Major Development Site Within Melbourne’s Revised UGB Hits The Market

AND so the first of many development sites within the recently extended Urban Growth Boundary has hit the market, in Tarneit.

The 64 hectare farm – once known as Shanahans House, and later Wyndham Park – is expected to sell for about $25 to $30 million, sources say, and attract interest from “local, national and international residential developers”.

Jones Lang LaSalle said two upcoming infrastructure projects – including a new Tarneit train stations, and the Outer Metropolitan Ring Road – will contribute to council’s ambitions to boost Tarneit’s population by more than 21,000 by 2020.

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More Farmers Become Millionaires As Government Needs Land For Housing

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.

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