Victorian-based greenfield land developer Villawood Properties has firmed as the favourite to nab one of the biggest housing projects in Adelaide, the $500 million redevelopment of the Morphettville Racecourse.
While the deal has yet to be formally announced, well-placed sources said Villawood, one of the country’s biggest private development companies, was in due diligence with the racecourse’s owner, the South Australian Jockey Club to be its development partner.
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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com
