Thursday, March 28, 2024

Goldfields expands further in regional Victoria

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Diversified national property development group Goldfields has snapped up three adjoining sites in Shepparton, as they continue to expand their residential platform in regional Victoria.

Shepparton Railway Station

The $15 million combined sites span 44-hectares and have been earmarked for development into a 450-lot strong masterplanned residential community, to meet increasing demand for affordable housing in the region.

“Demand for residential land across regional Victoria continues to grow, and Shepparton is no exception. It’s experiencing significant population growth, which is supported by infrastructure investment from the Victorian and Federal governments,” said Paul Cicchiello, national director of Communities at Goldfields.

The acquisition follows Goldfield’s recent purchase of an $8 million 400-lot site in Margaret River, Western Australia.

The future site of the estate is located within close proximity to the Shepparton town centre, within the Shepparton South East Precinct Structure Plan, the most significant of the five proposed growth corridors in the Shepparton-Mooroopna urban area.

“These sites are perfectly positioned in the Shepparton South East PSP, providing residents access to an excellent array of amenities. This new urban development will create an interconnected community with easy access to existing retail centres, extensive aged care accommodation, local parks and other community facilities,” said Lachlan Thompson, CEO of Goldfields.

Future residents at the estate will also easy access to local amenities, with a Coles and Woolworths supermarket, major retail offerings such as Bunnings and Kmart and the local primary and high schools.

“Goldfields is excited to meet this demand to ensure Shepparton can continue to thrive. Our approach will deliver a functional, quality community that adds value and celebrate Shepparton’s natural surrounds,” added Cicchiello.

The estate will also benefit from its close proximity to the Shepparton Railway Station, which will this year see upgrades through the government’s Stage 3 works on the Shepparton Line, resulting in more services to and from Melbourne at a shorter travel time.

Thompson noted Shepparton’s history of low rental vacancies and healthy investor yields, while the area is comparatively affordable compared to other rural Victorian cities like Ballarat or Bendigo.

Construction on the Shepparton residential estate is anticipated to commence in 2025.

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