1-afr_07dec16

One of the biggest state government land sales in the past decade was decided in just a week.

A massive site in Werribee that within a few years will have 2000 homes and 5000 new residents sold quicker than an average family home settles after auction.

The new housing development site in Melbourne’s west is almost the size of Docklands and will add pressure on the Napthine government for a new freeway link from the west to take pressure off the West Gate.

Tenders closed for the state-owned 125-hectare Werribee site between Hacketts Road and the Princes Freeway on May 15 and a week later it sold for ‘‘just over $100 million’’.

The site, bordering Point Cook, was advertised by Biggin Scott Land as having ‘‘very attractive vendors terms’’ and not subject to a growth area infrastructure levy.

Jack Hoffmann, general manager Victoria and Queensland with winning bidder the Perth-based Satterley Property Group, said they were ‘‘looking at getting between 1800 and 2000 homes on the site’’.

Read full article