Melbourne’s great land sale continues


Five prominent Melbourne development sites are trading this month in deals speculated to be worth a total of more than $40 million.

In inner-west Yarraville, a 4288 square metre site marketed to apartment and townhouse builders is exchanging hands for about $10 million.

Marketed without a street address and with a short-term lease to an office occupier, returning $360,000 per annum, the general residential 1 zoned land is between the Yarraville and Seddon train stations, near Yarraville Gardens and Footscray.

Savills agents Julian Heatherich, Jesse Radisich and Benson Zhou declined to comment about the property they sold just days after closing an expressions of interest campaign on May 3.

Further out, a high-profile Melton South site that made headlines late last year when its owner, Land Source Australia, went into receivership, is also understood to be selling.

Sections of the Waterford Estate site – which was to include houses as well as an oval, parks and a shopping centre – have been marketed by Biggin & Scott Land’s Andrew Egan, Callum Williamson and Frank Nagle, on behalf of bank-appointed administrators.

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