Yourland, NTT secure another Melbourne housing site
Yourland and Nippon Telegraph and Telephone, or NTT, have picked up an infill site opposite the Hawkstowe train station at South Morang for about $45 million.
The 12.13 hectare amalgamation – 1180 and 1215 Plenty Road, which are across the road from each other – is earmarked for a low density housing estate.
Local and offshore developers looked in, according to the agents, RPM’s Zaynoun Melham, Ed Wright and Jun Lai.
The vendor was the Nesci family which utilised part of it as an egg farm.
1180 and 1215 Plenty Road
The southern part of the South Morang site abuts McArthurs Rd while its eastern boundary is opposite the train station, which opened in 2018.
“This campaign underpinned what we are witnessing in the marketplace, where well located future infill development opportunities are highly sought after and achieving strong…rates,” Mr Melham said.
“The property, which had been family owned for more than 40 years, is well positioned for future redevelopment given its proximity to the Hawkstowe train station and surrounded by the amenity of established land estates,” he added.
The deal comes two years since NTT paid more than $100m for a 73.64ha Donnybrook block expected to accommodate some 1250 dwellings (story continues below).
In 2021, meanwhile, the group with Yourland acquired a 12.28ha parcel abutting its Officer Central housing estate, in Melbourne’s outer south east, for $43m.
Another South Morang site sale
South Morang is 20 kilometres north east of Melbourne
Since 2012, it has been serviced by a rail with three stations – Hawkstowe, Middle Gorge and South Morang.
In late 2021, a developer outlaid $6.42 million for a 1.34ha block in the suburb with plans for 36 townhouses.
Four years ago, meanwhile, ID_Land paid Melbourne Water $7.35m for a medium density residential development at 91 Williamsons Road, near the Middle Gorge train station.
“With more than 400 metres of frontage to Plenty Road, [the Yourland site] offers the buyer an opportunity to deliver one of Melbourne’s most prestigious and sought after greenfield projects,” Mr Wright said.
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