Wolfdene enters industrial sector via two Melbourne sites
Wolfdene has expanded into the industrial sector acquiring two Melbourne sites where it intends to deliver about $330 million worth of projects with new development partners.
In Cranbourne East, the developer paid $77m for a 24.95 hectare Commercial 2 zoned parcel with plans for a 95 lot estate (artist’s impression, top).
Wolf Group and Aspen Capital will partner on this project, to be known as Thompsons Corner, covering 1450 and 1454 Thompsons Road, within the Croskell Precinct Structure Plan.
The end value is put at c$200m.
Wolfdene agreed to buy the block in late 2023 but settled last month.
Donnybrook site
Meanwhile, within Donnybrook’s Shenstone Park, Wolfdene has snapped up a 19.72ha block with plans for a 91 lot light industrial park (continues below).
Blueways Group will co-venture on this development, with an estimated c$130m end value.
Construction of both projects should start next year with completion scheduled in 2028.
Wolfdene’s development pipeline is now c$4 billion.
The group also holds growth corridor Perth housing estate sites including a nine hectare East Wanneroo parcel we reported it acquired last April, and another block at North Ellenbrook with Oreana, purchased in 2024.
LAWD’s Peter Sagar marketed the Cranbourne East and Donnybrook blocks.
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