$100 million hopes for Melbourne fringe farm at Craigieburn

$100 million hopes for Melbourne fringe farm at Craigieburn
$100 million hopes for Melbourne fringe farm at Craigieburn

A Melbourne-based Italian family has listed their 153-hectare farm on the city's northern fringe.

It is tipped to sell to developers for more than $100 million.

The site at 750 Craigieburn Road East, is 23 kilometres north of the Melbourne CBD within the Urban Growth Zone.

It includes 97 hectares of developable area with the potential to yield 1700 residential lots.

Greenfield land prices in Melbourne have surged above $1 million a hectare in recent times highlighted when Chinese giant Country Garden purchased a 363-hectare site in Melbourne's west for a record $400 million,

The Craigieburn site is being market by RPM Real Estate Group who calculate the median lot price for Craigieburn rose 28 per cent compared to the previous 12 months.

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