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Farmland in Melbourne on the market for A$200M

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Farmland in Melbourne on the market for A$200M

RPM Real Estate Group is marketing 206 hectares of farmland in Melbourne's west, with a group of sellers expecting to take home at least A$A200 million from the sale, The Australian Financial Review reported.

The Oakbank site may be rezoned into residential and yield at least 2,600 housing lots worth over A$1 billion. According to the Sept. 9, the site is one of the biggest broadacre sites to come on the market year-to-date.

The site is made up of three neighboring farms owned by the Randello, Noce and Pepe families, the publication noted.