Receivers & Managers David Hardy, John Lindholm & Will Colwell of KPMG alongside selling agents David Minty, Nathan Mufale & JJ Heng of CBRE have transacted unconditionally on a vacant landholding in Craigieburn.

The 8.09-hectare, ‘urban growth’ zoned site in the north-western Melbourne suburb of Craigieburn was offered to the market via an International Public Expressions of Interest process.

KPMG Partner David Hardy confirmed that “the property drew interest from a variety of residential, aged care & retirement groups and international land bankers”. 

“Eleven (11) offers were received at the conclusion of the EOI period from local, interstate and international regions” added Hardy. 

Nathan Mufale noted “the property transacted on an unconditional basis to an International land banker who is based out of Hong Kong where the property was showcased via CBRE’s Asian Buyer Roadshow which was held during the sale campaign”. 

CBRE’s selling agent David Minty said “the site was not without its challenges with no formal access in place to service a future development but planned via the neighbouring landowners future subdivision project”

“With close to $100,000,000 in active capital across bidding highlights the on-going confidence in Melbourne’s growth area markets which much of the market feedback centred around forecast migration statistics for Melbourne and current housing undersupply”  

This was the second receiver and managers sale for the precinct with Aitken Hill estate selling unconditionally for $142,000,000 to Singaporean developer Ho Bee Land also handled by CBRE. 

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