This article is from the Australian Property Journal archive
POTTER George Group has settled its $76 million purchase of a 25.6-hectare site in Craigieburn, earmarked for a major new residential community.
To be known as Montview Estate, the 1300-1320 Craigieburn Road site is located around 26km north of the Melbourne CBD and will be developed into a 475-lot residential subdivision built around a community park and with an end value of more than $200 million.
The proposed development sits within close proximity—9km—of Potter George Group’s successful Trijena estate in Mickleham, which comprises 625 now 100% sold lots, at a combined $200 million in sales. With the group offloading a site within its Trijena project in 2020 for $6.82 million sale for the development of a new school.
“Featuring a range of lots sized to suit a variety of home designs, Montview Estate will be home to around 475 families,” said Jan Anthony, sales manager at Potter George Group and licensed estate agent.
“Set around a community park, the estate is located in Craigieburn, Melbourne’s pre-eminent growth area with only a 25-minute commute to the CBD, while Melbourne Airport is just 10 minutes away.”
Anthony added that the new venture by Potter George Group would aid in delivering supply to meet unprecedented levels of demand for quality in land in Melbourne’s growth corridors.
“Demand is incredibly strong in this well-established family area with a host of schools and colleges, shopping and medical centres, employment options, cafes and sports facilities within a short drive,’’ concluded Anthony.
Construction on Montview Estate in Craigieburn is anticipated to commence in July 2023 and is currently scheduled for a 2028 completion date.
