Developer SIG Group has acquired 162 hectares of farmland in Melbourne’s west with capacity for more than 2000 homes.
Local developer SIG Group has exchanged contracts to purchase 162 hectares of farmland from a local family in Melbourne’s west earmarked for a future housing estate, in the first significant land banking deal of the year.
While pricing remains confidential, the site acquired by SIG was expected to sell for more than $200 million when listed for sale over three years agoA separate 43-hectare parcel that was part of the earlier offering was not included in this deal, but western Melbourne lot prices have risen significantly in the intervening period, by 12 per cent in the past year alone.
Other plans for the precinct include a new train station on Sayers Road, which could bring fans to the 15,000-seat stadium and provide regular train service into the city for future residents.former Dahua Melbourne development manager Hugh Lu“The future Sayers Road train station means residents will be highly connected to Melbourne’s CBD, while being walking distance to the major activity centre of the Wyndham City Stadium,” Mr Lu said.