Stockland Expands Elara with $400M spend
Stockland, today announced an agreement to acquire approximately 184 hectares of land in Marsden Park, the heart of Sydney’s strong north west growth centre, for $398 million on deferred terms over five years.
The site is located on the northern side of Richmond Road within the North West Priority Growth Area. The agreement, which is conditional on land rezoning and additional terms, gives Stockland exclusive rights over prime land adjacent to Stockland’s existing Marsden Park masterplanned community, Elara. Subject to rezoning, this acquisition will allow the development of approximately 2,000 new residential lots.
Existing Elara site: