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

Stockland chief Matthew QuinnSYDNEY-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.

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