Victorian Growth Corridor Site Tipped to Fetch $30m

A greenfield site expected to yield more than 300 home sites in a Melbourne growth corridor has come to market.

The property at 18-22 Ballarto Road in Clyde, south-west of the city, is expected to fetch $30 million and sits across three titles. The 14.1ha site is within the planned 1099ha Clyde South precinct.

It is next to the Clyde township as well as a planned town centre and train station.

The Casey council area had more than 356,500 residents in 2019 with an expected population growth to 549,190 by 2041. 

Casey’s median land price rose by 14 per cent month-on-month from $419,000 in December 2021 to $477,500 in January 2022, and 25.4 per cent year-on-year to January 2022, according to Red23’s land market report for February.

The site is being sold by Core Land Team in conjunction with First National Neilson Partners Berwick on behalf of a private family. 

According to RP Data and Core Land team the site has not changed hands for about 90 years. 

The council plans for the Clyde South Precinct include a mix of high- and medium-density housing and activity centres close to the future railway line and town centre. 

Kane Malcomson, Trent Malcomson and Chris Jabs of Core Land Team, and Ross Neilson of First National Neilson Partners Berwick are handling the sale.

Malcomson said local and international interest in the property was expected.

“Properties of this quality in Victoria are very rare—in the south-east they are almost non-existent,” he said.

“Given the scale and proximity to established Clyde, this property will be extremely well contested by local and international development groups.”

Stockland recently acquired a 13ha site at Thompsons Road, Clyde North for $47.5 million, expanding its Victorian Land Lease Communities portfolio.

The planned Halycon community will be part of the masterplanned St Germain Estate and next to the future St Germain Town Centre, 55km south-east of Melbourne’s CBD. 

Earlier this year, ID Land bought 59ha of land in Clyde between Manks and Moores roads.