SINGAPORE (Oct 25): Frasers Property Australia, a unit of Frasers Centrepoint Limited, has secured 974 Black Forest Road – a 115 hectare land parcel in Wyndham Vale, a suburb of Melbourne, Victoria, Australia – for an undisclosed sum. In a Tuesday statement, Frasers Property says the deal is one of the largest site acquisitions in Melbourne in recent years, and that it will work closely with Wyndham City Council throughout the long term project. Specifically, 8.3 hectares will be allocated to education or community use with a further 8.3 hectares for retail, while 14.8 hectares will be dedicated to mixed-use commercial/employment purposes. “This strategic acquisition is ideally located in one of the highest volume residential trading corridors not only in Victoria but Australia,” says Anthony Boyd, executive general manager (residential) for Frasers Property Australia. With an approved Precinct Structure Plan in place, the first lots at Wyndham Vale are expected to be offered to the public from early 2018.

Source: The Edge Markets October 25, 2016 00:45 UTC