ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

Central Equity Snaps Up Tarneit Land For $98 Million

160225-tarneit_620x380

Central Equity has spent $98 million on a property in Tarneit with the development potential for about 1500 lots, according to The Australian Financial Review.

The paper reported that company had purchased the 105-hectare property on the corner of Sayers and Davis roads, west of Melbourne, for approximately $1 million a hectare.

The sale was negotiated by Rudy Kelemen of Kelemen Commercial on behalf of the private vendor Angelo Di Dio.

The AFR stated that other developers with land projects in Tarneit included Stockland, Satterley Property Group and Latitutde Real Estate. Developer PEET also paid $90 million late last year for a 123-hectare property in the suburb with a permit for 1,500 lots.

Image: Tarneit is one of Melbourne's fast-growing suburbs with a range of amenities.

ADVERTISEMENT
TOP STORIES
CONTRIBUTE TO THE CONVERSATION
Show Comments
advertise with us
The Urban Developer is Australia’s largest, most engaged and fastest growing community of property developers and urban development professionals. Connect your business with business and reach out to our partnerships team today.
Article originally posted at: https://theurbandeveloper.com/articles/central-equity-tarneit