Tarneit apartment site fetches c$13m

Intaj Khan picked up 645 Derrimut Road (outlined) in August.

A central Tarneit site – opposite a proposed town centre – is trading for a speculated $13 million.

Half of the 4.05 hectare property at 635 Derrimut Road is contained in the Derrimut Road Urban Design Framework precinct and can accommodate high density residential.

About 300 metres north of the suburb train station, and near Tarneit Shopping Centre, the balance could make way for retail or social infrastructure product.

“The sale represented another strong infill development result in Melbourne’s booming western subrubs, as developers continue to capitalize o the ever-growing demand for housing,” Knight Frank marketing agents Paul Lillis, Stephen Kelly and James Thorpe said (story continues below).

Thirteen groups submitted offers, they added; the buyer is a local, offshore backed developer.

The deal comes four months since Countryland Australia, directed by former Wyndham councillor Intaj Khan paid c$14m for the neighbouring 5.5ha mixed-use zoned site, 645 Derrimut Rd, with plans for an education and health precinct.

Subscribe to our newsletter at the bottom of this page.

Share or Recommend article

Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.