Record-Breaking Land Deal in Clyde North

Brown Property Group’s purchase of the land at 200 Tuckers Rd, Clyde North, is believed to be a record for Victorian residential development sites. The acquisition opens the door for a potential 1290 new homes, pending planning approval from the City of Casey.

The property was previously owned by a family who had farmed the land for six generations. The sale attracted significant interest from major developers, including Australian-based Chinese firms.

High Demand for Development Land

According to commercial real estate agency LAWD, the listing received over 20 offers, representing a total of $4 billion in capital. While declining to comment on the specific sales price, LAWD noted that developers from Perth and Queensland traveled to inspect the site.

Then-Carlton footballer Fraser Brown, who is now the Brown Property Group’s director, photographed in 1999. The Brown family have been developing land for 40 decades.

---

200 Tuckers Rd, Clyde North, has been farmed by the same family for six generations.

---

The Significance of the Deal

The sale price translates to approximately $4.2 million per hectare for the site’s 60ha net developable area. “I can’t think of a single residential development side that’s sold for that amount for a long time, in Victoria,” Mr Sagar said.

This acquisition follows Brown Property Group’s purchase of the Cranbourne Golf club for a reported $190 million last year. Fraser Brown, a director of the company, was a member of Carlton’s 1995 grand final team and won the club’s Best and Fairest award in 1998. He retired from football in 2000.

LAWD senior director, Pete Sagar, says there is a need for more land to be freed up for affordable housing development in and around Melbourne.

---

Future Development in the Area

the Tuckers Rd property falls within the Clyde Creek precinct structure plan, which outlines the approved future development for the broader area.

Mr Sagar is also managing the listing for 13-15 Diggers Rest-Coimadai Rd, Diggers Rest, which is expected to sell for $90m-plus.

---

Carlton’s Stephen Silvagni, Peter Dean, Craig Bradley, fraser Brown and Brett Ratten celebrate winning the 1995 grand final against Geelong.

---

Explainer: Melbourne’s Thriving Property Development Scene

melbourne’s property development landscape is currently experiencing robust activity,driven by population growth and demand for housing. This surroundings fosters significant investment and competition among developers. Recent large-scale land acquisitions, such as the Clyde North deal, highlight the ongoing confidence in the Melbourne market. Factors such as strategic location, access to infrastructure, and government planning initiatives play crucial roles in attracting developers to specific areas.

The Clyde Creek precinct structure plan is a key element influencing development in the southeast corridor. Such plans provide a framework for coordinated infrastructure and housing development, ensuring enduring growth. These large land deals not only provide housing opportunities but also stimulate economic activity through construction and related industries.