As released in June, the future pipeline of projects in Melbourne’s South East will be further bolstered by a number of significant land transactions completed by the Core Projects Acquisitions team within the region. In an off-market transaction with a major ASX listed property developer and construction giant, brokered by Kane Malcomson, an 83ha cattle farm will be transformed into a 1100+ lot master planned community, with lot sales within this estate set to commence early 2020. This is the fourth off market transaction brokered by Core Projects in Melbourne’s South East in the past 6 months, with the company also facilitating the transaction of two large farms in Clyde to National Pacific Properties (400+ lots) and Pask Group (500+ lots) by Trent Malcomson. These transactions highlight the continued strong appetite for premium, scalable developments sites.
The team have also been busy in the West. In the ungazetted Warransbrook PSP, a property on Tarletons Road was transacted in early 2019. This was the first time a property of this scale was introduced to the local and international developer community. Following an incredibly successful tender process with local and international developers, the site was eventually sold to local developer National Pacific Property Group (Burbank Group) setting a per hectare record in the area.
This was the most significant transaction within the ungazzeted western corridor PSP’s, breaking a cycle of speculator trading by introducing a sophisticated developer to the area. It followed another successful transaction of a 12ha property on Brooklyn Rd in the Melton West PSP.
The team have a number of significant properties coming up for sale in the next 6 months (both on and off-market). We encourage you to get in touch with one of the team to chat further about these upcoming opportunities.
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