This article is from the Australian Property Journal archive
FRASERS Property Australia has announced plans for 1,600 new homes and a 6,000 sqm town centre on a dairy farm in Melbourne’s south east growth corridor, confident the rapid population increases will continue following the COVID period.
To be developed on a 116.33 hectare site at 270-272 Hardys Road, Clyde North, the future community will also have an exclusive residents club, a primary school, childcare centre and extensive parklands.
The site will be developed under a joint project development agreement with the landowners over the next eight years. The first land lots are expected to be released to the market in mid 2021.
Cameron Leggatt, executive general manager development, Frasers Property Australia said the announcement is an indication of the company’s long-term confidence in the Australian residential market.
“Before the pandemic, this pocket of Victoria was the second-best performing land market in Australia and we are confident the underlying demand for quality home choices in this corridor of Victoria will remain strong,”
“The corridor is highly sought-after for its proximity to the Mornington Peninsula, its affordability and for the lifestyle choices it offers.
“These fundamentals remain, and we have a real opportunity to design and develop a new community that takes into consideration everything we have learnt during the COVID-19 experience about what communities will need now and into the future.”
Frasers plans for the new community to pay homage to the site’s farming history. An existing 1940s farmhouse has been earmarked for possible future community use.
“The site has a proud farming history over the past century, and we want that history to inform our design for the site’s future use. The current owners also want to be part of that process, cementing their family legacy for future generations,” Leggatt says.
Consideration will also be given to post-COVID community expectations, such as community co-working spaces.
Frasers Property already has a presence in Melbourne’s two strongest growth corridors of the south-east and western districts, adding to its existing communities of Berwick Waters in Mambourin and The Grove, Tarneit. In the city’s east, it is constructing its uber sustainable Burwood Brickwoods mixed use community.
A masterplan for the new Clyde North community is being developed and will likely be revealed later this year.
