Peet Limited’s Roxburgh Park Arena in Melbourne’s north launched

ASX-listed property developer Peet Limited has been focusing attention on Melbourne’s north and has officially launched its fourth residential community in the area.

This week, with the City of Hume and Melbourne Water, Peet officially launched the Roxburgh Park Arena. The development will be supported by major road works, recreation facilities and open space.

Within the development, $14 million has been allocated to construction a section of Aitken Boulevard, including a direct connection between Somerton Road to James Mirams Drive in Roxburgh Park.

A total $6.5 million is set for parts one and two of the 10-hectare district sports precinct in the Peet Arena community, while the City of Hume is pouring in $2.5 million for the facility.

Part one works begin next month, and will be completed in mid-2015.

Peet Limited managing director and CEO, Brendan Gore, said the company has committed to Melbourne’s northern corridor. Over the past six years, they have brought almost 1,000 home sites to the area in its Aston Craigieburn and Greenvale Lakes developments.

“Peet has more than 3,000 lots in the pipeline on a total of 200 hectares, across its active communities of Aston in Craigieburn, Aspect in Greenvale and Arena in Roxburgh Park,” said Gore.

“Across our portfolio in the City of Hume, Peet will account for an investment of more than $110 million in community infrastructure including 23 hectares of parks and playgrounds; and two neighbourhood activity centres.”

In the Roxburgh Park Arena, Woolworths has already been named the anchor tenant and the supermarket’s planning is underway.

In total, they expect this new community to include 500 new properties. They will then have three sites in the area – Aston Craigieburn, focusing on first home buyers, Arena Roxburgh Park, focusing on families and upgraders, and Aspect Greenvale, focusing on maturing families, upgraders and empty nesters.

“Providing the infrastructure to support and create robust communities is an important part of Peet’s expansion plans in Melbourne’s north,” he said.

“We have been working closely with government, and particularly the City of Hume, Melbourne Water and Parks Victoria, to ensure we meet the community’s needs and complement the strategic vision for the region.”