AVID acquires Villa World, now 'Top 10' land developer

AVID Property Group has taken ownership of residential developer Villa World Limited, positioning the new combined business amongst the top 10 land developers in the country.

The $410 million acquisition will see AVID’s portfolio increase from 10 to 37 projects and more than 12,000 residential lots, securing a gross revenue pipeline of $4.7 billion.

AVID CEO Cameron Holt takes the helm of the new combined business, which see a broadening in the range of house and land offers for future home buyers.

“The success of this acquisition firmly positions the company up there as a key national residential property contributor,” Holt said.

Holt said a new executive team combines leaders from both AVID and Villa World.

“All of our leaders share a deep passion for their teams, their customers and for driving quality and innovation, which will support this exciting growth phase,” he said.

With an expanded residential portfolio and geographic footprint across Australia’s eastern seaboard, AVID and Villa World will continue to operate under both brands.

Villa World ceased trading on the ASX on October 16, 2019 following a majority shareholder vote in favour of the acquisition.