Oct 31 (Reuters) - Cedar Woods Properties Ltd CWP.AX :
* ACQUIRES 43 HECTARE SITE IN MELBOURNE'S NORTH FOR $56.65 MLN
* LAND WAS PURCHASED FROM P. & A.M. MICELOTTA FOR $56.65 MLN
* SITE TO ACCOMMODATE A MASTERPLANNED COMMUNITY OF MORE THAN 500 LOTS; EXPECTS PROJECT TO CONTRIBUTE TO EARNINGS WITHIN 3 YEARS