Clyde's future town centre development site listed at Eliston estate

Clyde's future 26-hectare town centre site is tipped to fetch more than $60 million, after being listed by National Pacific Properties, the development arm of home builder Burbank Group. The site at 1625 Ballast Road, next to the future Clyde train station, has been listed through Peter Sagar of LAWD and Justin Dowers of Stonebridge. It adjoins NPP’s Eliston housing estate, an 97ha masterplanned community which will be home to about 2730 residents when completed in about 2023. The town centre has development approval for 40,000 to 50,000 square metres of retail space and 40,000 to 50,000 square metres of commercial office space. Set within one of the largest in Melbourne’s growth corridors, NPP general manager Tom Trevaskis the site had been identified as a “major activity centre” by the Victorian government. The south-east growth corridor, set about 50 kilometres from the Melbourne CBD, saw around 850 lot sales across some 24 housing estates in July and August, according to land sales specialist Core Projects, on the back of strong demand for detached housing and a relatively constrained future land supply. Trevaskis said accelerated development of adjoining land provided a ready-made retail catchment for the future town centre. The Clyde town centre was being taken to market as NPP intend to focus on "ramping up" its real estate development business, and not have a strategy to develop and hold retail centres. Burbank Group was founded as a Melbourne home builder in 1983 by stepbrothers Eddie Sanfilippo and Eddie Puhar. Led by Jarrod Sanfilippo, the late Mr Sanfilippo’s son, the company has since expanded into Queensland, NSW, ACT and South Australia. NPP was formed in 2005 as a land developer.