Diversified national developer ID_Land has acquired three parcels of land in Clyde, in Melbourne’s south-east, the largest acquisition yet by the multi-billion-dollar company, which now has a pipeline that exceeds $3.5 billion.
The 59-hectare site is expected to yield approximately 1,200 greenfield lots, advancing ID_Land’s total pipeline to 6,000 lots spanning growth-area communities, townhouses and apartments.
Underpinning the continued expansion of the ID_Corp group of companies, which includes developer ID_Land, homebuilder Shape Homes and fund manager Title Capital, the acquisition will see the group re-enter the sought-after south-eastern growth corridor – a region ID_Land last operated in with two now-complete projects in Officer, which were completed in 2017.
The site will form part of the 1,099-hectare Clyde South Precinct Structure Plan (PSP), which will see the suburb evolve with new residential lots, retail amenity, schools, as well as the potential future Clyde Railway Station.
The major acquisition is reflective of ID_Land’s sustained confidence in major growth corridors across Victoria and Queensland; the company last year acquired sites in Gisborne and Geelong, as well as its first interstate acquisition in Walloon, Queensland.
ID_Land’s joint managing directors Matthew Belford and Jeffrey Garvey believe the Clyde acquisition is a strong addition to the company’s already well-rounded portfolio, allowing the group to return to Melbourne’s southeast and anchor its long-term growth across development, homebuilding and funds management.
“2021 was a year full of milestones for the team, with five parcels of land acquired both in Victoria and interstate, alongside the announcement of our expansion into funds management with Title Capital. We’re proud to kick-start this year with our largest acquisition to date, strengthening our foothold in the Victorian market.
“It’s no secret that we’ve seen a significant shift in buyer priorities over the last two years, with more younger buyers capitalising on the economic tailwinds for FHBs to secure their first home – we are expecting this activity to remain relatively strong, underpinned by the affordable nature of the growth area land and inner-city townhouses.
“As government investment in transport, education and infrastructure, as well as private enterprise activity across retail, housing and amenity, remains strong in growth areas such as Clyde, we expect these regions to remain sought after.
“Looking to Melbourne’s southeast, we see a similar opportunity to that of regional Victoria. The Clyde South precinct structure plan underpins the confidence we have always had in the area, and we are looking forward to once again delivering high-quality residential stock to this growing locale,” Garvey said.
“In-line with our previous large-scale acquisitions, Clyde will foster the continued expansion and growth of each of the ID_Corp companies, leading to further development, homebuilding and investment opportunities as part of our long-term strategy.”
“Similar to last year’s acquisition in Walloon QLD, this major site in Clyde provides an opportunity for us to deliver residential lots to a market experiencing pent-up demand, while also allowing Title Capital investors opportunities to co-invest in the portfolio alongside Jeff and myself.
“Our long-term strategy for ID_Corp will see us continuing to invest in Australia’s best performing and fastest growing regions, and delivering affordable supply to where the market needs it most,” said Belford.
The sale was managed by Andrew Egan and Frank Nagle of Biggin & Scott Land.
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