VicRoads to Sell Major Craigieburn Residential Development Site

There is scope for the government to build train stations along this track between Craigieburn and Donnybrook.

In recent years developers have been snapping up farms with residential development potential even further north than Donnybrook, but still along the train line.

The most notable recent sale was Stockland’s $300 million purchase of the 1121 hectare Lockerbie estate in Kalkallo – some 35 kilometres from town, which will be rebuilt into a $4 billion community.

Knight Frank’s Anthony Cementon and Martin Bourke are marketing the Craigieburn site for VicRoads.

Meanwhile, closer to town, VicRoads is investigating relocating staff from its Denmark Street, Kew, headquarters, to allow that site to be redeveloped into an apartment based village.

It’s speculated VicRoads headquarters may be relocated to a provincial town, in the same way the Transport Accident Commission successfully moved its offices, and most of its staff, from Exhibition Street to Geelong recently.

Should this plan proceed, a smaller VicRoads presence is expected to be retained at Box Hill, according to agent sources.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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