Land developer Jinding will inject more than $100 million into new and upgraded infrastructure as part of its Broadstead Kilmore community, following Mitchell Shire Council approval of its masterplan.
Jinding is set to start construction in mid-2024 on the new community, located off Quinns Road, with 93 per cent of the 35 lots in stage one sold for close to $12.2 million.
The second stage of 41 lots was recently launched, with blocks ranging from 574 to 1186 square metres and priced between $376,000 and $415,000, with the first waterway-fronting home sites due to be released early next year.
Council approved the Broadstead Kilmore masterplan in December 2023, paving the way for Jinding to add to its $197 million Kilmore estate.
Jinding will inject $23 million into works external to the project masterplan, including extensions to Tootle Street and McIvors Road, sewer and drainage infrastructure to service the greater precinct, shared cycling, and walking paths, as well as the preservation of native vegetation at Quinns Road Reserve.
Jinding developments general manager Andrew Ashwood said the council’s approval was a key milestone for the new community, enabling Jinding to start work on the masterplan.
“We’re pleased to now move into the next phase of development, delivering a new community that complements this picturesque location and sought-after neighbourhood, appealing to residents looking for a semi-rural lifestyle,” he said.
“The upcoming waterway-fronting lots will be a unique feature, sitting adjacent to the waterway winding its way through Broadstead Kilmore, enhancing the community’s beauty and activating connections to surrounding green space.”
Dr Ashwood said the infrastructure works built upon the company’s continued community engagement, with $10,000 in grants delivered this year to seven Kilmore groups as part of the Broadstead Kilmore Community Grants program, which would return in 2024.
Jinding has also entered into a partnership with independent not-for-profit social enterprise Homes for Homes whereby 0.1 per cent of the sale price of each lot at Broadstead Kilmore, about $197,000, will be donated to the charity to deliver social housing in the broader community.
Jinding also supports community events and sporting clubs such Kilmore Football and Netball Club.
“We’re committed to making a positive contribution to the region with our new community,” Dr Ashwood said.
“Kilmore’s unique heritage buildings and strong sporting spirit is something that makes it a special area, which we’re proud to contribute to.”
Dr Ashwood said buyer interest had predominately come from people living in the northern growth corridor, with nearly half of purchasers seeking to upgrade to a new and larger family home.
Home sites purchased to date have achieved a median price of $352,200 and median lot size of 787 square metres.
The 60-hectare Broadstead Kilmore site includes 11 hectares of greenspace and waterways and adjoins a proposed government primary school site, future sporting ovals and connections to town buses.
