Stockland announces new agreements to restock its Victoria pipeline

Stockland have announced two new agreements to restock its Victorian pipeline.

They include a townhouse site adjacent to an existing Altona North project in Melbourne’s inner west and a 342 hectare land parcel in the Merrifield North Precinct Structure Plan area in Melbourne’s north.

Stockland CEO of communities Andrew Whitson said the agreement with Food Investments Ltd takes its townhouse exposure in Melbourne’s growing inner-west to around 900.

The Stockland national pipeline of townhouse now sits at roughly 3,200 (with 1,300 in Victoria), according to the company.

As the current landowner, Food Investments Ltd will maintain a stake in the project, which will be developed and delivered by Stockland over the next 5-10 years, subject to planning approvals and market demand.

The proposed plan also includes a future community centre and an approximate $1.5 million contribution towards affordable housing.  

Stockland also announced that it has entered into a long-dated project delivery agreement to develop 342 hectares of land in the Merrifield North Precinct Structure Plan area, in close proximity to Stockland’s Cloverton community at Kalkallo.

The agreement has been facilitated on capital efficient terms in a strategic growth area, which is currently unzoned and will undergo a rezoning process over the coming years.