This article is from the Australian Property Journal archive
SEVEN landowners have teamed up to offer a 84.21ha gateway site at Wallan on the outskirts of Melbourne.
Fitzroys’ Zane Alexander and Chris Kombi is offering the mega site, known as The Wallan East Land Parcel, via an international expressions of interest campaign closing Thursday, July 27th.
Located 45km from the CBD, the site which includes 55 Kelby Lane, 2595 Epping-Kilmore Road, 265 and 345 Wallan-Whittlesea Road and 20, 30 and 40 Hart Court, has the potential to yield more than 800 lots, subject to council approval.
Alexander said the significant offering is the latest example a trend that is seeing multiple neighbouring owners combining and offering their properties for sale in order to maximise returns.
“The offering gives purchasers the chance to make their mark on a key gateway position in Melbourne, Australia’s fastest growing city, adding some 100,000 new residents per year,” Alexander said. “Wallan’s growth sees it now providing a transition between the rural activities to the north and east and the urbanized environment to the south and west.”
Alexander said the property is expected to attract interest from local, interstate and offshore developers.
Kombi said the Wallan East Land Parcel is a logical extension to the Wallan township, utilizing existing and emerging infrastructure to support the development of an urban community.
He said that with Mitchell Shire’s population growth expected to double by 2036, the demand for housing will inevitably grow also.
“It is clear that developable landholdings such as this site will play a critical role in ensuring sufficient supply meets the demand,” Kombi said.
Australian Property Journal
