Stockland buys townhouse site for $62m

Stockland will add more than 400 townhouses to Melbourne’s supply of affordable family housing after snapping up this 11.5ha site in the city’s middle ring northern suburbs for $62m. 2A Beachley Street Braybrook was recently rezoned from Industrial to General Residential that includes master plan and permit for a medium density development incorporating 440 dwellings.

Melbourne Acquisitions facilitated this transaction which required extensive negotiation due to the complexities associated with the site’s size and previous uses.