DIVERSIFIED property business, Chinese-owned Jinding, has purchased two adjoining sites in Kilmore’s south-east with plans for a development of about 550 lots.
The property company purchased two parcels of land located between Quinns Road and Tootle Street comprising a total of 60 hectares and aims to create lots averaging around 550 square metres each.
Jinding was established in 2016, with an integrated model incorporating developments, real estate, investments, funds management and services.
Jinding’s current development portfolio consists of more than 4000 homes, with an estimated end value in excess of $1.8 billion.
Current developments include The Patch Wollert, Octave at Junction Village and Harriott Armstrong Creek.
The two Kilmore lots were secured prior to their rezoning from farming to residential land.
Jinding chief executive Luke Guthrie said the developer would target owner-occupiers and tree changers given the larger average lot sizes and established periurban location.
Mr Guthrie said the site’s proximity to the Kilmore town centre and schools such as Assumption College and The Kilmore International School would appeal to buyers.
There are plans for the development to enhance the natural drainage in the area, design the road network around established trees and promote a connection to nature.
“Developing in Kilmore was a deliberate choice for us, with the trend towards regional living growing significantly in the past 18 months,” Mr Guthrie said.
“Our aim is to meet this growing demand in Victoria, with best-in-class developments, championing premium living that is underpinned by a strong mix of amenity for all our customers.”
Jinding development division managing director Liz Ronson said there had been a flurry or urbanisation in the Wallan and Beveridge growth areas, but Kilmore had remained relatively untapped.
“The recent rezoning is a very strong proposition from a development perspective, as the land is relatively affordable and well connected to established social infrastructure, with a leafy rural backdrop,” she said.
“Our strategy is to identify and acquire sites that offer something special, such as, amenity, established trees, and beautiful natural features. I think with our first projects moving into settlement mode, people are now able to see we deliver on our vision of quality.”
Jinding will launch the Kilmore lots for sale in 2022, with construction anticipated to commence late next year, ahead of welcoming residents in 2023.
For more information about Jinding and its portfolio of planned and active projects in Australia, people can visit www.jinding.com.au.