Overseas Demand Expected For Master Planned Estate

Knox City Council is seeking expressions of interest from developers in a 6.3ha master planned medium-density development, with strong interest expected from overseas buyers.

DTZ is selling the Stamford Park Residential Precinct, which is located just 30 kilometres from the Melbourne CBD.

DTZ Senior Director and Head of Agency Victoria Richard O’Callaghan said the estate was expected to attract interest over $8.5 million.

“This release is a once-in-a-lifetime offering,” he said.

“Stamford Park represents an opportunity to create a whole new living space in Australia’s next biggest city."DTX Director Capital Markets Patrick O'Callaghan said: “We are anticipating strong interest from both local and overseas investors for this opportunity, located in one of Melbourne’s real growth corridors.”

The 6.3 hectare site is zoned ‘General Residential Zone’ and offers a master planned medium density development with a minimum of 151 dwellings including a proposed four-storey apartment complex and partial below ground parking included in the estate.

The subdivision site is close to Stud Park and Scoresby Village Shopping Centres, Rowville Primary Child Care and Secondary Schools, as well as a number of parks, lakes and transport options.

Stamford Park has been owned by Knox City Council for over 25 years. The net proceeds from the sale will enable Council to fund the renovation of the historic 1880s Stamford Park Homestead and the design and construction of public facilities at Stamford Park.

The site is being offered for sale via Expression of Interest, closing 3pm Wednesday April 15 2015.