Family-held Clyde site sells as developers chase scale

A tightly held parcel in Melbourne’s south-east growth corridor has sold off market, with AVID Property Group securing 40 Derricks Road, Clyde on an extended settlement, underscoring sustained demand for scale-ready development sites in key greenfield markets. 

The 8.09-hectare site, zoned Urban Growth Zone (UGZ) within the Clyde South Precinct Structure Plan, has been held by the same family since the early 1980s, marking a generational transfer into institutional-grade residential development hands. 

Located within one of the state’s most active land corridors, the property sits among major developer landholdings and is expected to benefit from the broader Clyde South PSP, which is slated to deliver more than 13,000 homes as part of Victoria’s long-term housing supply pipeline.  

The scarcity of remaining privately held sites in the precinct has sharpened competition among developers seeking future pipeline certainty. 

Joe Kairouz of Cushman & Wakefield and Zaynoun Melhem of RPM Group sold the property and said the depth of enquiry reflected a continued flight to scale and planning-aligned opportunities across Melbourne’s growth areas. 
“We’re seeing sustained demand from well-capitalised developers targeting large-format sites within PSP-aligned corridors, particularly those that offer clarity around future planning and the ability to deliver staged communities over the medium term,” said Joe Kairouz of Cushman & Wakefield.  

“The transaction highlights the continued appeal of Casey’s south-east corridor, where population growth, infrastructure investment and relative affordability continue to underpin developer interest. The site’s extensive frontage and fully developable nature, subject to PSP approval, further enhance its long-term development profile” he said. 
Zaynoun Melhem of RPM Group said the asset’s fundamentals resonated strongly with groups seeking both immediacy and optionality. 
“This was a compelling offering given its scale, clean title position and location within an emerging precinct that is rapidly being consolidated by major developers, providing the purchaser with the ability to deliver a significant residential outcome in a tightly held market. 

“This sale reinforces a broader trend across Melbourne’s fringe markets, where long-held family assets are being absorbed into institutional and developer portfolios, as groups position themselves for the next wave of residential expansion” he said. 
Cameron Holt of AVID Property Group said the purchase strengthened the developer’s long term pipeline position in Victoria and aligned with its strategy of investing in quality land in key growth corridors along Australia’s eastern seaboard. 
“We have pushed for significant growth in recent years, and this purchase is a strategic move in cementing our development pipeline, in what is still very much a supply constrained Greater Melbourne market,” he said. 

“This new site directly neighbours one of our planned residential projects, offering a unique opportunity to expand on our existing masterplan.”  
The site has an extensive frontage of almost 300 metres to Derricks Road, with the future Clyde Railway Station proposed to be built just a 5-minute drive from the site.