Greencor Pays $26 Million For Wollert Farm, Melbourne

DESPITE a slowdown in new house sales, developers are continuing to build up a landbank on Melbourne’s outskirts, and some farmers have never been happier.

This month, growing local developer Greencor paid $26 million for a 57-hectare farm on Bodycoats Road in Wollert, 27 kilometres north of town, between Craigieburn and Doreen.

Marketed as ”the last big one”, and with the potential to be subdivided into about 900 lots, the property adjoins other farms recently acquired by major developers including Sydney-based, ASX listed giant Stockland, the state government’s development arm, Places Victoria, and Evolve Development, part directed by Melbourne millionaire and former Fairfax Media chairman Ron Walker.

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