Frasers Property Group have acquired a 63ha land parcel fronting Cooper Street & O’Herns Rd in Victoria for $40M. The transaction represents $63/sqm of total land area. The site is zoned industrial however it has a number of development constraints including the Someton High Pressure Gas Pipeline as well as several heritage and natural habit constraints and is within a closed landfill buffer and an active quarry buffer, all of which limit the developable area of the site. Frasers expect that the site will eventually accommodate up to 250,000sq m of built form. #Frasers #Development
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