This article is from the Australian Property Journal archive
DEVINE and Ballarat-based the Gull Group have launched a new $800 million residential community in Bacchus Marsh.
The Gull Group is Australia’s largest private operator of retirement villages through its Country Club Villages brand and first acquired the Bacchus Marsh site in 2007.
The 141-hectare site is approximately 45km from the Melbourne CBD and borders a golf course and the Werribee River, and is expected to yield approximately 1,500 lots over the next 8-10 years.
Gull Group directors Alistair and Stewart Gull said several other options for the site had been examined before choosing Devine.
“We are extremely pleased that a major residential developer such as Devine recognises the potential that exists for this extraordinary site,” Gull said.
“It is a magnificent site with potential to be a truly great new community. We look forward to working with The Gull Group to deliver a master planned community which includes a diverse range of house and land options for buyers,” Devine Victoria general manager Neil Anderson said.
Anderson said the current zoning of the site would allow quick commencement of the project with the first sales expected to occur before June next year.
“Demand for the site is expected to be strong given the lack of supply in the west of Melbourne, which is forecast to continue for the next few years until the new Precinct Structure Plans are approved,” he added.
Preliminary Plans of Development have already been presented to Council with a formal Plan to be lodged shortly. Sales are expected to commence on site before June next year.
Australian Property Journal
