888 Property Group Expands Portfolio with $200 Million in Strategic Land Acquisitions for Residential and Industrial Development in Melbourne’s West

888 Property Group has made two significant acquisitions in Melbourne’s booming western corridor, securing prime land parcels in both Bonnie Brook and Truganina for a combined value of $200 million. These acquisitions further strengthen the company’s pipeline in one of Australia’s fastest-growing regions, targeting both residential and industrial markets to meet rising demand.

The first acquisition, a 48-hectare site at 562 to 600 Leakes Road, Bonnie Brook, Melton was purchased for $100 million and will support the development of up to 1,000 homes. The Bonnie Brook site is part of the Warrensbrook PSP. Located within the thriving Melton region, this site positions 888 Property Group to address Melbourne’s escalating housing demand, particularly in the west, where population growth continues to surge.

“This project marks a crucial step in our growth strategy. The demand for quality, affordable homes continue to rise, and we are committed to delivering a residential community that enhances the lifestyle and liveability of Melbourne’s western suburbs,” says Mike King, Founder and Managing Director of 888 Property Group.

The Bonnie Brook project will be a key addition to 888 Property Group’s growing portfolio, offering first-time buyers and family’s access to homes in a well-connected, fast-developing area. Situated near Caroline Springs, Mount Atkinson, and Woodlea, the site is perfectly positioned within Melbourne’s growing suburban landscape.

Simultaneously, 888 Property Group has purchased a second site at 687 Hopkins Road, Truganina, also for $100 million. This 42-hectare site, acquired in an off-market transaction, will undergo rezoning as part of the Chartwell East Precinct Structure Plan (PSP). The land will be transformed into a major industrial hub, meeting Melbourne’s industrial supply needs as demand continues to outstrip availability.

“This acquisition is a vital opportunity to address critical supply shortages in Melbourne’s industrial market. The Truganina site will deliver a much-needed industrial hub to support the growth of Melbourne’s west, in line with the local Structure Plan,” said King.

“For 888, the past 13 years has been spent acquiring strategic land holdings around metropolitan Melbourne and delivering planning and rezoning outcomes before divesting them and moving forward with further acquisitions. It is now 888’s intention, having achieved significant financial growth, to deliver both strategic acquisitions in Melbourne’s west,” added King

Both the Bonnie Brook and Truganina acquisitions highlight 888 Property Group’s strategic focus on addressing the key challenges of Melbourne’s urban growth, with a balanced approach to residential and industrial development. Under King’s leadership, 888 Property Group has built a solid reputation for delivering sustainable, high-quality developments since its founding in 2011.