West Melbourne hobby farm fetches $180m from developers
Stamford Capital and Citius have snapped up a major industrial and residential development site in Melbourne’s west.
The 58.9 hectare property, 725 Boundary Road, Truganina, set them back c$180 million.
The seller was the Ruzeu family, which held over three decades.
Part was once a hobby farm.
A significant, staged estate with the capacity for logistics facilities and data centres is expected, local agency sources say.
Major mixed-use site
Sliced by a train line, not all the Truganina land is developable: about 35.8ha is zoned for industrial. Some 5.5ha can accommodate residential (continues below).
The site is exposed about 800 metres to both Boundary and Woods roads.
There is also an access point at Vulcan Drive.
A proposed train station is about 150m away.
Colliers’ Nick Saunders and Hugh Gilbert were the marketing agents.
Truganina is about 23 kilometres from Melbourne’s CBD.
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