ANZ backs Hamton-Hostplus with $295M loan for build-to-sell

ANZ has executed $295m of debt facilities to deliver the next stage of the $2 billion redevelopment of Moonee Valley Racecourse, known as Moonee Valley Park.

The loan to the developer, a joint venture between leading Melbourne private developer Hamton and leading industry superannuation fund Hostplus, represented by its Investment Manager, ISPT, will primarily fund delivery of the next two residential stages, Trackside House and Stonepine House, comprising 325 build to sell apartments.

Funds will also be used to seek planning permits on the balance of the development land and sitewide works to prepare for the Club’s works, which are due to commence in November 2025.

Hostplus CEO, David Elia said, “We are delighted to continue our long-standing relationship with Hamton Property Group and linking our institutional banking relationships to bring the next stage of this residential development to life.

Hamton’s Executive Chairman, Paul Hameister, said, “The scale of this debt package with ANZ, is a reflection of the strength of security offered by the Hamton-Hostplus-MVRC partnership and the pre-sale success of the latest stages.

“It shows that for the right projects and the right developers, build-to-sell is still a development strategy that will secure the support of the big four banks.

“ANZ’s collaborative approach and innovative thinking has added a lot of value to the project to date and we look forward to continuing that partnership through until project completion over the next decade.

Jo Scotney General Manager of Institutional Property & Health at ANZ, said, “We are pleased to support three key customers as they work towards this important project together. We look forward to growing the partnership over the next decade.”

Mr Hameister said, “with the outstanding sales success for these two latest stages, we now have the pre-sales debt coverage for ANZ and our appointed builder, Icon, has commenced construction”.