CountryLand Australia has sold half of its Rockbank North Major Town Centre site in a deal valued at more than $22 million, advancing plans for a mixed-use urban hub in Melbourne’s West.
The transaction was led by CEO and former Wyndham City councillor Intaj Khan, with assistance from property agency CBRE.
The sale involves the southern 12.3ha of the 24.6ha site at 886–940 Beattys Road, Aintree, to a local developer (undisclosed).
An ASX-listed food retailer has been secured to deliver the future town centre, which is planned to include retail, dining, entertainment, and civic spaces as part of the approved Rockbank North Precinct Structure Plan.
Khan will retain the northern 12.3ha to progress a $400 million mixed-use residential and commercial development that complements the town centre.
“It is great to have the town centre realised for the local community, which needs another major retail centre to support the growing population here, along with future residents from the Melton East PSP,” he continued.
“Retaining the northern part of the land will enable me to realise my vision through a complementary development.”
Khan added that he remains heavily invested in Melbourne’s West.
“When I first purchased this land for $16 million, few could see its potential. Today, it has generated sales exceeding $50 million. I encourage others to look closely at the opportunities the West offers.”
David Minty and Trent Hobart of CBRE assisted with the sale.
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