Stockland has acquisition of two future precincts of the 'Clydesdale Estate' residential development site in Marsden Park from BHL Group.
The Clydesdale Estate precinct is zoned for residential use and sits adjacent to Stockland's Elara masterplanned community. The precinct will add approximately 340 lots to Stockland's presence in Sydney's north-west corridor, building on the recent acquisition of 'The Gables' at Box Hill.
Stockland CEO of Communities, Andrew Whitson said: "This is a great opportunity to expand our landholding within Marsden Park with zoned land and extend the sales and development program of our Elara community which has a very strong brand in the north-west growth corridor.
"The acquisition aligns with our strategy to restock our development pipeline with market-ready projects in well connected corridors close to transport, schools, jobs and infrastructure.
"This corridor remains significantly under supplied, and we expect our communities in this corridor to continue to attract good demand from homebuyers in the medium term, with record-low interest rates and an increased customer demand for homes in high quality masterplanned communities."
Stockland's General Manager of NSW Communities, Richard Rhydderch, said: "Stockland has $8.1 billion invested in New South Wales, and a proven track record creating communities in Sydney's north-west, with both Elara and Altrove proving very popular with homebuyers over the past few years.
"The acquisition of the Clydesdale Estate precincts will see Stockland expand its offering at Elara with a range of housing options, good access to the local infrastructure, services and great parks and open spaces we've created at Elara. "
"As part of our plans for the site, we will restore the Clydesdale House heritage precinct, and work with local authorities to create an additional open space area for the entire Elara community to access and enjoy."