Stockland spend $105 million on Donnybrook house and land site

Stockland has spent about $105 million for a house and land site in the Donnybrook precinct in Melbourne’s north.

Stockland chief executive of communities, Andrew Whitson, said the acquisition extended the company’s long-term presence in the northern growth corridor of Melbourne, one of the fastest expanding in Australia.

“The northern corridor will play a key role in the future economic and employment growth of Melbourne, and is expected to be home to over 260,000 people over the next 30 years.”

It is an 89.5 hectare land parcel one kilometre east of the train station, some 30 kilometres from the Melbourne CBD.

Stockland could expect about 1400 new homes, along with a school.

It is within the approved Donnybrook Woodstock Precinct structure plan.

Some of Australia’s largest developers including Mirvac, Stockland, Satterley & Dennis family have nearby holdings.

The 975 Donnybrook Road holding is about five kms from Stockland's 1100 hectare Lockerbie sheep station, Kalkallo purchase in 2010 which is now emerging as Cloverton, Melbourne’s largest master-planned community, set to have 11,000 dwellings.