Sydney-based developer Mirvac is speculated to be in advanced negotiations to buy one of the biggest development sites offered in Melbourne this year – again.
Mirvac is believed to be paying more than $100 million for a 55-hectare block in Point Cook, an establishing bayside western suburb 25 kilometres from the CBD.
The vacant tract, known as Lot 2 Aviation Road, is expected to be subdivided into 800 residential blocks.
It is next to other housing estates being developed by Mirvac rivals Australand and Villawood.
Biggin & Scott Land directors Frank Nagle and Andrew Egan were unavailable to comment about the Point Cook block they are marketing. A Mirvac representative was also unavailable to comment about Point Cook and other speculation that the company was no longer part of a shortlist to buy the outgoing Kingswood golf course in Dingley.
An imminent $100 million sale of the 54-hectare Dingley block was reported in June. But with the eastern suburbs site now the subject of a court appeal, it looks unlikely to proceed in the short term, sources say.