Clyde North 71ha Land Sale
Private developer Goldfields has acquired a 71ha land parcel in Clyde North from the Grossi family, long term market growers in the region.
Goldfields will pay approx $105M for the land which forms part of the Clyde Creek Precinct Structure Plan (PSP). The PSP indicates the land has a total developable area of 55ha and a yield of approx 880 lots. The price paid equates to $1,909,090 per developable hectare or approx $119,000 per lot. The non-developable areas of the site are designated for parks and schools.
The average 400 square metre block in the area retail to new home buyers for more than $340,000, which leaves little room for development costs, statutory contributions and and profit margin.
Goldfields expect to to start marketing lots on the property by 2020.