Seven adjoining landowners have come together to offer an 84.21-hectare (approx) gateway development site in Melbourne’s northern growth corridor.
The rare parcel of land is positioned within the Wallan East Precinct Structure Plan and offers potential to yield more than 800 lots (subject to council approval).
Zane Alexander and Chris Kombi of Fitzroys are marketing the site as an international expression of interest campaign closing July 27, the land parcel including 55 Kelby Lane, 2595 Epping-Kilmore Road, 265 and 345 Wallan-Whittlesea Road and 20, 30 and 40 Hart Court.
Alexander said this latest site was another example of a trend that is seeing multiple neighbouring owners combining and offering their properties for sale in order to maximise returns.
Located just 45 kilometres from Melbourne’s CBD and connected by both the Hume Highway and Wallan Train Station, the Wallan East Land Parcel has the potential to offer the desired features of a highly functional residential community with ideal amenity for family living, according to Alexander.
“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,” he 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 added that the property was expected to attract interest from local, interstate and offshore developers.
“Wallan now offers a range of housing choices, with amenities close by and residents have the choice of walking, cycling or using public transport for their daily needs.
"It is positioned close to masterplanned estates by Frasers, TRC Synergy, Universal Corporation and Verve Projects, and offers direct access to Melbourne’s CBD via Wallan Train Station.”
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 added that with Mitchell Shire’s population growth expected to double by 2036, the demand for housing would 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."