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A major infill landholding in Cheltenham in Melbourne’s bayside has been sold for $53.8 million, changing control of a large development-ready site in a supply-constrained corridor. The deal positions the buyer to pursue a sizable residential-led redevelopment outcome, subject to planning and delivery timelines.
9:46 PMPropertymarkets NewsSummary
A major infill landholding in Cheltenham in Melbourne’s bayside has been sold for $53.8 million, changing control of a large development-ready site in a supply-constrained corridor. The deal positions the buyer to pursue a sizable residential-led redevelopment outcome, subject to planning and delivery timelines.
Why it matters
Large infill site turnover is a leading indicator of where the next wave of housing supply, pricing pressure, and planning fights will concentrate.
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