This article is from the Australian Property Journal archive
DEVELOPER Jinding has lodged a development application for a $228 million residential community on its Greenvale site, the final greenfield parcel in the suburb.
The developer plans to deliver a community comprising 430 lots, two-hectares of green space, a government primary school and community facilities to the Greenvale site, located around 23km north-west of the Melbourne CBD.
As part of the application, Jinding will also preserve the parcel’s 1860s bluestone buildings, Dunhelen Homestead.
Jinding acquired the 28-hectare parcel at 1240 Mickleham Road, Greenvale, for $93 million back in November 2021 and plans to release the first stage of land in the next 12 to 18 months, pending council approval.
“Greenvale is one of the most desirable postcodes in Melbourne’s northern growth corridor and we’re planning a project that does the site full justice,” said Simon Howell, general manager of developments at Jinding.
“As the final greenfield parcel in the suburb, and with access to significant existing amenity and views to the CBD, we’re finalising community consultation to inform the detailed design of what will be a premium new address.”
In 2022, the 2016-established developer achieved over $100 million in sales across 254 lots in its Victorian communities: Harriott at Armstrong Creek, Octave at Junction Village and The Patch in Wollert.
The year saw 220 lots settled for $70 million, with a further 715 lots valued at over $250 million forecast to settle in 2023.
“We’re also looking forward to releasing a new masterplanned community at Kilmore in the coming months, which will honour the country-style living and charm that makes this area so desirable,” said Howell.
The developer will add the additional masterplanned community to its portfolio in the coming months, the new 60-hectare country-style 550-lot Broadstead at Kilmore, which will commence construction in mid-2023.
“It will feature larger than average lots, encouraging a return to homestead abodes, with deep setbacks so residents can enjoy expansive front verandas that foster neighbourly connections,” added Howell.
While plans for another project in north-west Melbourne are being finalised, with the development application for the new 400-lot community in Sunbury to be lodged this year.
“Our focus is on sites that are underutilised, giving us the opportunity to add value. We’re not afraid to take on parcels that some might consider challenging or complex, as we believe they provide the most potential, particularly to uplift their value,” said Howell.
“The acquisition of our first commercial site in West Melbourne has further diversified our portfolio, and we are in the process of exploring opportunities interstate to continue expanding across Australia.”
