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Frasers Property Australia buys land for A$250M Melbourne industrial hub

Frasers Property Australia Pty Ltd. purchased a 63.4-hectare site in Melbourne's north for A$40 million from the Canzoneri family, with plans to develop the land into a A$250 million prime industrial hub, The Australian Financial Review reported.

The site at 415 Cooper St. in Epping comprises two parcels of former farmland that will be developed into 250,000 square meters of new logistics facilities, with the first phase expected to be completed by mid-2019.