Frasers Centrepoint acquires land parcel in Melbourne suburb for $466 mil mixed-use development

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.

The land will be used to develop an A$440 million ($466 million) mixed-used community with around 1,200 residential lots covering 69.4 hectares, and associated amenities including over 20,000 sq m of retail facilities focused on local needs.

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