A housing estate block at what will long term be a busy western suburb intersection has sold to a local for $11 million.
The 12.1 hectare farm at 690-716 Greigs Road, at the north west corner of Paynes Road, Thornhill Park, is gazetted Urban Growth, within the Rockbank South Precinct Structure Plan zone and has the potential to be subdivided into about 200 housing lots, according to sources.
Given its profile, commercial and retail components are also anticipated.
The property is a few minutes drive to Western Freeway and Rockbank train station, where more retail and schools are earmarked.
Bacchus Marsh Grammar’s Woodlea campus is nearby, too, as are housing estates including Wel.Co’s Thornhill Park, Goldfield Group’s Bridgefield, Resi Ventures’ Accolade and Stockland’s Grandview and Mt Atkinson (story continues below).
Melton, the closest major activity centre, is about seven kilometres away.
Savills’ Julian Heatherich, Benson Zhou and Jesse Radisich with PSP’s Jasmender Singh and Manpreet Dandiwel were the marketing agents.
Thornhill Park was one of 11 suburbs introduced by the fast-growing City of Melton in 2016 to not overweight the population of Melton South, Plumpton and Rockbank.
It is about 30 kms from Melbourne.