Goldfields secure Shepparton masterplanned community site
The diversified national property development group, Goldfields, has bulked up its regional Victoria residential development pipeline, securing three adjoining sites in Shepparton.
Situated in the Shepparton South East Precinct Structure Plan (PSP), the largest of five proposed major growth corridors in the Shepparton-Mooroopna urban area, the newly acquired sites are set to become a masterplanned residential community comprising of approximately 450 lots (subject to council approval).
Located a stone’s throw away from the Shepparton town centre, the estate will offer easy access to local primary and high schools, Coles and Woolworths supermarkets and retail favourites Bunnings and Kmart.
Future residents will also benefit from its proximity to the Shepparton Railway Station, with the Victorian Government’s Stage 3 upgrade of the Shepparton Line due to commence this year. The works will deliver additional Shepparton to Melbourne rail services with a shorter travel time.
The acquisition further bolsters Goldfields’ commitment to investment in regional centres and follows their purchase of a 400-lot, $8 million site in Margaret River, WA announced in February.
Goldfields’ National Director of Communities, Paul Cicchiello, said the recent purchase of the residential sites in Shepparton reinforced Goldfields’ commitment to targeting strategic opportunities in Victoria’s regional growth areas.
“Demand for residential land across regional Victoria continues to grow, and Shepparton is no exception. It’s experiencing significant population growth, which is supported by infrastructure investment from the Victorian and Federal governments,” Cicchiello said.
“Goldfields is excited to meet this demand to ensure Shepparton can continue to thrive. Our approach will deliver a functional, quality community that adds value and celebrate Shepparton’s natural surrounds.”
Goldfields’ Chief Executive Officer Lachlan Thompson said that the new project will provide an unrivalled offering, with quality amenities and green open spaces creating an attractive opportunity for first home buyers, families and investors alike.
“These sites are perfectly positioned in the Shepparton South East PSP, providing residents access to an excellent array of amenities," Thompson said.
"This new urban development will create an interconnected community with easy access to existing retail centres, extensive aged care accommodation, local parks and other community facilities.”
“Shepparton has a history of low rental vacancies and strong yields for investors. It’s also more affordable than similar regions in rural Victoria, such as Ballarat and Bendigo, and these factors contributed to our belief in the area."
Construction is expected to begin in 2025.