This article is from the Australian Property Journal archive
VILLAWOOD Properties has formed a joint venture partnership with Investec Bank (Australia) Limited to develop a new $160 million residential project in Melbourne’s west.
Villawood Properties executive director Tony Johnson said Aspire will deliver 700-plus land allotments and aims to ease the strong demand for land in the region.
“Located within the Shire of Melton, an area that accounts for approximately 40% of residential activity in Melbourne’s west, this land parcel has been identified for its location and ability to ease growing buyer demand.
“The imminent conclusion of land sales at Caroline Springs, located right next door to Aspire, will reduce limited land supply even further for this highly sought after location. As a result we anticipate strong buyer interest in this development,” Johnson added.
Construction on the Beattys Road site is expected to commence early in 2011 and a registration of interest campaign now running.
Investec Property Limited fund manager Matthew Liston said the land parcel owned by Investec Property Opportunity Fund No.1 was acquired following the identification of the unique supply constraints in the Hillside region.
Australian Property Journal
