This article is from the Australian Property Journal archive
POTTER George Group’s Trijena residential project in Melbourne’s northern growth area has achieved sell out status of all available land for a combined $200 million in sales.
Located 33km north of the Melbourne CBD in Mickleham, the project’s 625 lots have now all been snapped up, with development targeting families seeking a lifestyle destination.
“The expressions of interest campaign for the final 40 lots was extremely well supported, and with all lots now accounted for we expect to begin construction on this last stage by the end of March,’’ said Scott Payten, project manager for Trijena.
Payten noted that on top of the product, buyers were pulled in by the low interest rate environment, government incentive programs and the trend towards lifestyle living throughout the peaks of the pandemic.
“Over the past few years, the Mickleham area has emerged as a premier residential location in the city’s rapidly growing northern reaches as demand for open-space lifestyle increases,’’ said Payten.
Future residents at Trijena will also benefit from upcoming infrastructure in Melbourne’s north and west, with the Victorian Planning Authority’s Growth Corridor Plans outlining key housing developments and new transport projects for the area in the next 30 years.
In addition to being placed within close proximity of Craigieburn and Donnybrook train stations, Trijena sits amongst schools and shopping and medical centre offerings, with planned or underway sporting and leisure centres.
“In the new era of work-from-home, people are also prepared to shift further from the city where they can build the home that they want, and still enjoy excellent local amenities,” added Payten
In light of this shift, residential offerings outside of the inner-suburbs are seeing a boost in popularity, with the northern growth corridor seeing a 20% boost in prices over the last 12 months.
Potter George Group also anticipates similar levels of buyer interest for its nearby development on Craigieburn Road, which is due for a late-2022 release.
The Craigieburn Road project will include 450-lots across a 25.6-hectare site, as well as a private school, with an end value exceeding $200 million.
