800 homes set after Stockland buys $82 million Wattle Park, Tarneit housing site

Stockland has further bolstered its residential pipeline in Victoria with the purchase of Wattle Park for $82 million

800 homes set after Stockland buys $82 million Wattle Park, Tarneit housing site
800 homes set after Stockland buys $82 million Wattle Park, Tarneit housing site

Stockland has announced it has further bolstered its residential pipeline in Victoria with the purchase of Wattle Park, Tarneit for $82 million.

Stockland expect to build around 800 new homes in a new masterplanned community.

Stockland will commence development, marketing and sales following settlement once the necessary planning permits are granted.

Initial site works are expected to commence in 2022.

The 84 hectare site is located within the western growth corridor some 30 kilometres west of Melbourne’s CBD.

The 85-87 Sewells Road holding is in the City of Wyndham.

Wattle Park Tarneit is close to Stockland’s recently acquired community, Grand Central.

It is approved for development under the Victorian Planning Authority’s Riverdale Precinct Structure Plan.

Stockland Communities CEO Andrew Whitson said their acquisition aligned with its strategy to re-stock its residential pipeline in corridors with strong demand fundamentals.

“We expect the Melbourne greenfield market to outperform over the next 12 months given the extended lockdown has subdued growth over the past year,” said Mr Whitson.

Stockland’s general manager of residential for Victoria, Mike Davis noted Stockland has over $2.7 billion invested in Victoria including communities in Melbourne’s west including Mount Atkinson and Grandview in Truganina, which are now home to more than 1,300 residents.

The Wattle Park site includes views of the Werribee River.

Around 26 hectares of land will be set aside for conservation space.

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

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