MELBOURNE, 23 AUGUST 2020
In a sign of its long-term confidence in the Victorian residential market, Frasers Property Australia has announced plans for a new mixed-use community in Clyde North, in the heart of Melbourne’s south-east growth corridor.
To be developed on a 116.33 hectare site at 270-272 Hardys Road, Clyde North, the future community is anticipated to comprise approximately 1,600 homes, a 6,000 sqm town centre, an exclusive residents club, a primary school, childcare centre and extensive parklands.
The site, an existing dairy farm 50km from Melbourne’s CBD and 9km from the Monash Freeway, will be developed under a joint project development agreement with the landowners over the next eight years.
The first land lots are expected to be released to the market in mid 2021.
Cameron Leggatt, Executive General Manager Development, Frasers Property Australia says the announcement of the new Clyde North community is an indication of the company’s long-term confidence in the Australian residential market.
“The site is in the heart of the City of Casey in Melbourne’s south-east. Before the pandemic, this pocket of Victoria was the second-best performing land market in Australia and we are confident the underlying demand for quality home choices in this corridor of Victoria will remain strong,” Mr Leggatt says.
“The corridor is highly sought-after for its proximity to the Mornington Peninsula, it’s affordability and for the lifestyle choices it offers.
“These fundamentals remain, and we have a real opportunity to design and develop a new community that takes into consideration everything we have learnt during the COVID-19 experience about what communities will need now and into the future.”
Plans for the new community will pay homage to the site’s rich farming history. An existing 1940’s farmhouse has been earmarked for possible future community use and consideration will also be given to new community expectations, such as community co-working spaces, fit for a post-COVID world.
“The site has a proud farming history over the past century, and we want that history to inform our design for the site’s future use. The current owners also want to be part of that process, cementing their family legacy for future generations,” Mr Leggatt says.
The acquisition strengthens Frasers Property’s presence in Melbourne’s two strongest growth corridors of the south-east and western districts, adding to its existing communities of Berwick Waters, Mambourin and The Grove, Tarneit.
Frasers Property is focused on developing a masterplan for the new community, with the site’s future vision expected to be revealed later this year.