Australand Sells Undeveloped Taylors Hill Shopping Centre For $23 Million

AUSTRALAND will build its first Greenfield retail project, in the outer Melbourne north-western suburb of Taylors Hill.

The developer, which is best known for its residential, industrial and office projects, has sold an unbuilt shopping centre- part of its Taylors Hill housing estate – for $23 million, to a group of Melbourne private investors.

The 5,300 square metre Watervale Shopping Centre sold on an estimated yield of about 8 per cent, according to the AFR, which reported the deal.

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