LAWD has set a new sale price record for residential development sites in Melbourne’s sought-after South East for the 68.77-hectare 200 Tuckers Road site in Clyde North, one of the last remaining infill residential development sites of scale in Victoria, and capable of delivering in excess of 1,290 residential lots.
Sold to the Brown Property Group, the residential development land at 200 Tuckers Road is located approximately 40km southeast of the Melbourne CBD and features 1.7km of high exposure dual road frontage to Tuckers and Patterson Roads. It also has access to major transport links such as the M1 Monash Freeway, M3 Eastlink Freeway, the Cranbourne Train Line, South Gippsland Highway and Mornington Peninsula Freeway.
Brown Property Group purchased the nearby Cranbourne Golf Club, 12km from the Tuckers Road site, for a reported $190 million just 12 months ago, and LAWD Senior Director, Peter Sagar, said these transactions are an indication that developers and investors are preparing for an impending housing boom.
“Congratulations to Brown Property Group on another successful transaction in the area,” Mr Sagar said.
“During the sale process, LAWD received more than 20 offers totalling $4 billion worth of capital from institutional and private investors including some very big names in residential property development.
“That level of enquiry demonstrates developers are thinking with their feet and paying a premium to secure sites like Tuckers Road, which offer certainty around planning and infrastructure.
“The market hasn’t shown this level of confidence since it peaked in late 2021. There is a clear need to release more greenfield housing supply in an attempt to achieve affordability, as there has been a five-year delay in Melbourne’s housing pipeline due to current planning policy targeted towards increasing supply of ‘apartments’.
“Unfortunately, the state Government hasn’t approved any new residential Precinct Structure Plans (PSPs) in years, the Windfall Gains Tax has stymied regional markets, apartment developers are continuing to struggle with construction costs, migration rates and housing preferences continue to cause pressure.”
So far in 2025 the LAWD Development team has achieved in excess of $1 billion of land sold or currently under offer, and Mr Sagar said the firm is noticing a pronounced uptick in enquiry and transaction completion.
“The Victorian Housing Statement’s plans to build 800,000 new dwellings in the next decade indicates a further tightening of available new greenfield PSP land, which is why Tuckers Road presented such a rare opportunity in Melbourne’s most sought-after growth corridor,” he said.
“While it’s great to see confidence within the residential market returning, sadly the lack of housing supply will not meet current demands and only perpetuate the housing crisis.”
Two hundred Tuckers Road is located in the City of Casey, where the population is forecast to grow by almost 40% between 2024-2046. The established residential catchment is underpinned by some of Australia’s largest developers, including Stockland, Brown Property Group, Mirvac, Frasers Property and Balcon.
Fully de-risked from a zoning, services and delivery perspective, 200 Tuckers Road is situated within the approved Clyde Creek PSP, which features eight schools, 850ha of residential land, a 178ha sports park and three local town centres, as well as active paths and bus-capable road networks.
The successful transaction of 200 Tuckers Road was brokered by LAWD Senior Director, Peter Sagar and LAWD Director, Paul Callanan.
