Jinding adds more rural sites to book
Two months after acquiring Warden Park, in Broadford, Jinding has added three more regional sites to its book – spending an extra c$50 million.
At Tatura, near Shepparton, the group is acquiring 100 Dhurringrile Road.
Spreading 43.19 hectares, with frontage to Pike Rd, it can accommodate some 400 above-average size lots.
The northern boundary abuts a proposed native reserve also facing the Midland Highway.
The end value of the estate is expected to circle $110m.
“We are witnessing several Melbourne based developers pursuing regional and peri-urban land opportunities,” Stonebridge’s Julian White, who marketed the site with Lucas Gentile and Chao Zhang, said.
“The state government has slowed down the metro Precinct Structure Plan process and has openly signalled significant growth plans for regional centres,” he added.
“This, along with the opportunity to offer a more affordable land price, are the driving factors in this push,” according to the executive.
Warrnambool set for $140m estate
Meanwhile at Dennington, about four kilometres north west of Warrnambool, Jinding is buying a 43 hectare site – planning a c460 lot subdivision.
With extensive frontage to the Merri River around the corner of Shannon and Harrington roads, the ex-farm is near housing estates under construction.
Upon completion, this estate should be worth $140m, the developer said (story continues below).
Warrnambool is about 225 kilometres south west of Melbourne’s CBD.
Mount Barker buy
Meanwhile – Jinding is buying a c22ha site on Bradfield Lane, Mount Barker.
Also at a town outskirt surrounded by estates under construction, some 350 lots are planned.
A 16ha component of this block traded three years ago for $5m.
The end value of Jinding’s project is put at $110m.
The deals come two months since we reported the developer outlaid c$20m for Warden Park in Broadford with plans for a680 lot estate.
That community carries a c$680m end value.
CBRE was the marketing agency.
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