STOCKLAND has announced it has acquired sites at 75 Stewart Street and 261 Beveridge Road, Beveridge.
The 140-hectare site will see Stockland build around 1400 homes in a future community.
The site is the largest permit-approved project within the Beveridge area and allows for development of housing, a town centre and other mixed-use precincts, schools and open space, all anchored via a proposed train station.
Stockland Communities CEO Andrew Whitson said the outlook for the market was positive, supported by low mortgage rates, access to credit and an ongoing preference for low density living, bolstered by more time spent at home as a result of greater workplace flexibility.
“This acquisition builds on our strong track record of delivering affordable housing to meet the needs of tomorrow’s homebuyers. The future community will be complementary to our vision for the nearby Cloverton community with a focus on liveability and community,” Mr Whitson said.
Mr Whitson said Stockland had over $2.6 billion invested in Victoria. This deal is understood to be valued at about $125 million.
The growing area is currently served by the Hume Freeway and upgraded Donnybrook Train Station and Wallan Train Station with a train station at Beveridge proposed in the Victorian Government’s approved Lockerbie Precinct Structure Plan.
Stockland will commence sales and initial site works for Beveridge in mid-2022.