Places Victoria Earns $180m From the Sale of two sites

04/11/2014 12:04 am

Places-Victoria-LogoPlaces Victoria, the State Government developer,  has sold two growth corridor sites to Lend Lease and Satterley ­Property Group, netting a total of $180 million.

The sale of the 410 hectare Aurora site in Epping North to Lend Lease is likely to be the biggest Melbourne land deal of the year, trumping ISPT’s $125 million acquisition of the Kingswood Golf Course, according to the AFR.

Lend Lease paid $126.7 million for Aurora, while Satterley Property paid $53.45 million for the 127 hectare Aspect estate at Officer, in Melbourne’s outer south-east.

Places Victoria chief executive Gregory Anderson said the sales were a “sound commercial outcome”.

“Divesting these assets allows us to focus on genuine infill opportunities,” Mr Anderson said.