CANBERRA based private investment company Transurban Developments has paid $13.5 million for a residential development site in the west Melbourne suburb of Wyndham Vale.

The 24-hectare development site at 445 - 479 McGrath Road has development approval for 231 new homes.

The site was offloaded by private investment group the Ballan Brothers, which also own car dealerships in the western suburbs. The site is less than 3 kilometres from shopping centres and schools, and is near the Werribee train station.

Read more...