This article is from the Australian Property Journal archive
STOCKLAND has snapped up a 80.04ha farmland at Mickleham in Melbourne’s northern growth corridor.
The transaction was handled by m3property director Dan Magree and Azurium Real Estate executive director Peter Sagar. Azurium is the consulting advisory arm of Ferrier Hodgson.
The sale price was undisclosed.
Located approximately 25 kilometres north of the Melbourne’s CBD, the 80.04ha englobo land parcel was sold to Stockland on a deferred terms basis.
The site will complement Stockland’s neighbouring Highlands Estate in Craigieburn.
Magree said there was strong interest shown for the parcel with several offers received predominantly from domestic listed and private land developers.
He added the land is one of the few remaining privately owned large-scale development sites within the established Northern Growth Corridor.
“The land has a Farm Zoning under the City of Hume Planning Scheme, with a portion of the site dedicated to Conservation. It will require Precinct Structure Plan (PSP) approval prior to the commencement of future residential development,” Magree said.
Demand for development land in Victoria is running hot. Recently Chinese news mogul Tommy Jiang paid $160 million the former Bradmill site in Yarraville and Villawood bought a 89ha site at Donnybrook Rd Mickleham for $14 million.
Australian Property Journal
