Regardless of which property cycle we're in, at Salvo we’re continually acquiring, holding and developing carefully selected sites that will deliver a superior asset and enduring legacy over the long term. We’re pleased to complete this latest transaction for a premium landholding in one of the fastest growing regions in the country that is poised for major investment and population growth. This project reflects our diversification strategy beyond inner city high-density developments, with a vision to develop a thriving masterplanned community in Melbourne’s west, in partnership with Casey Capital. Melbourne’s property fundamentals remain strong, including population growth and continuing demand for affordable housing stock in greenfield communities close to existing and future amenity and transport connectivity. Mark Casey Mark Fischer Gil Norwood https://lnkd.in/eekPeK8f
💲 TRANSACTION UPDATE Signalling our diversification into Melbourne’s greenfield market, we’re pleased to finalise a $73 million transaction for a 61.55-hectare prime landholding in Tarneit in Melbourne’s west with our JV partner Casey Capital. Located at 1228 Leakes Rd in Tarneit, 32 kms from Melbourne’s CBD, the site is directly opposite the future 15,000-capacity Wyndham City Stadium which will be home to A-League franchise Western United Football Club. The area is set for major infrastructure investment including a new train station, town centre and schools. The long term vision is to develop a masterplanned community with a diverse product mix of up to 1,700 dwellings including townhouses, apartments and detached homes, parkland and open spaces as well as commercial and mixed use facilities. We look forward to developing this A-grade asset into a landmark residential precinct that will benefit the broader Wyndham community for many years to come. Funding partner: Qualitas #masterplannedcommunity #wyndhamISP #propertydevelopment #melbournelandmarket
