TW Projects acquires two new sites, adding to $300M pipeline of communities across regional Victoria10 October 2023
Housing developer TW Projects is set to deliver 250 new homes in regional Victoria, across two newly acquired sites in Yarrawonga and Warragul.
The developer acquired a 9.77 hectares landholding at 26-28 Hogans Rd, Yarrawonga in an off-market transaction. The property was sold with a permit in place to deliver over 100 lots ranging from 476sqm to 880sqm.
The team intends to commence construction onsite by March 2024 with a view to completing the project by April 2026.
In Warragul, B&S Land’s Frank Nagle and Andrew Egan facilitated the sale of 130 Dollarburn Road for an estimated $14.5M.
The developer will submit plans for a $55M scheme containing approximately 150 general residential and low density lots on the 16.6 hectare site before year’s end.
The acquisitions come as the developer also received the tick of approval from Colac Otway Shire Council for its 55-lot subdivision at 36-52 Bruce Street, Colac; and consultation has commenced on the rezoning of their Hillview project that will see a further 350 lots in the picturesque town.
In a show of confidence for regional house and land, TW Projects has launched sales campaigns on a further five projects in 2023 alone, seeing sales success at newly launched communities in Kyabram, Colac, Yea, Nagambie and Lethbridge.
Directors Jack Townley and Albert Weddell are Victorian surf-coast locals and as such, they are particularly passionate about providing housing opportunities in regional Victoria.
“There’s certainly been a lot of doom and gloom in the housing market for the past 12 months but what we’re seeing is that more people are looking to build a home and lifestyle outside metro Melbourne,” said Townley.
“We’ve got a broad mix of projects on our books and are dealing with a wide range of buyer types from first home buyers to those seeking holiday homes to capitalise on country living,” Weddell added.
These latest projects will add to the group’s $300M+ pipeline, which is made up of over 900 lots in 15 communities across regional Victoria.