Melbourne permit-approved medium density townhouse site sold to local developer $12m by Colliers International Leon Ma, Michael Gardner and Jozef Dickinson, in conjunction with Kane Malcomson and Chris Jabs of Core Projects

The site located at 305 Harvest Home Road Epping sold on behalf of a local investor.

Situated in the highly regarded Aurora Estate, around 21.5km north of the Melbourne CBD, the property has an approval to develop approximately 109 townhouses and two separate “super-lots” totalling 2,349sqm within a multi-staged project.

Mr Ma said the property was sold unconditionally after a five-week Expressions of Interest campagin.

“We received more than 100 enquiries through the course of the International Expressions of Interest campaign and the property drew interest from both local and offshore developers alike,” he said. “Underpinned by its leading location in Melbourne’s northern growth corridor and with the government incentive for first home buyers boosting land sales in this growth corridor, the property attracted keen interest.

“A permit-ready townhouse development opportunity close to an activity centre is seldon offered to the market. This explains the strong response we received from both local and international groups desperate to secure a development opportunity of this calibre. The response we had over the course of the campaign is a true testament to the resilience of development market.”

The property adjoins the Aurora Village shopping centre which is anchored by a full line Coles supermarket and liquor, accompanied by a gymnasium and specialty retail offering. The prime position lends itself perfectly for medium density development to take advantage of a thriving buyer market.

“The sale of 305 Harvest Home Road, Epping demonstrates strong buyer demand for quality development opportunities in this market, with eight offers received at the close of the campaign,” Mr Keen said.

The sale represented a record of close to $5million per hectare on the land and more than $110,000 per townhouse according to the permit. 

To request a sales analysis please email either of the selling agents via the below contact details.