Media Release 04 March 2024

Inner city sales further grow LAWD’s presence in metropolitan development market

LAWD has continued expansion of its service offering and presence in the metropolitan development sector with three high-profile transactions in the inner to middle ring suburbs of Melbourne, including 59 Johnston Street, Port Melbourne.

The vacant development site, situated less than 200m from Port Melbourne beach, is permitted for nine luxury apartments designed by Kennon and boasts stunning city views.

This success follows the sale of two rare infill sites over the past few weeks, demonstrating LAWD’s rapid evolution to become one of Australia’s pre-eminent specialist real estate firms, and extension beyond its initial agribusiness and greenfield development offerings.

Twenty-six Waldheim Road, a 3.22ha development opportunity at Bayswater, was sold after being listed for private sale for $7.2 million. Classified as General Residential Zone-Schedule 1, the site offered one of the few remaining opportunities to secure a substantial holding in Melbourne’s tightly held Inner-Eastern corridor.

In Fawkner, LAWD led the transaction of a 2,486 sqm corner site at 6-8 Seacombe Street that included a church, hall, three-bedroom house and amenities located 11.6km north of the Melbourne CBD.

“I think this very clearly demonstrates the ability of the LAWD team to consistently achieve great outcomes for our clients regardless of business conditions,” LAWD Development Director, Lukas Byrns, said.

Meanwhile LAWD’s dedicated project marketing business LAWD Projects, led by Director Henry Burbury, has commenced collecting registrations of interest for Kings Lane, South Kingsville. The residential project is a collection of only 25 stunning three- and four-bedroom townhomes, eight kilometres from Melbourne CBD, and will be officially launched to the market in April.

LAWD Development Senior Director, Peter Sagar, said the appointment of leading personnel, with proven track records in metropolitan development and project marketing, along with a strategic focus on building upon the company’s existing greenfield market position, was driving LAWD’s expanded offering.

“We are extremely focused on identifying and meeting the unique requirements of key clients with diversified assets regardless of location,” Mr Sagar said.

“It’s an exciting time to be in the market and LAWD is fulfilling its goal to be a significant presence in driving Melbourne’s ongoing evolution and economic growth.

“Already, LAWD has a proven sales record in selling large englobo sites, industrial sites, master-planned communities (and superlots within master-planned communities) in all greenfield growth corridors in the Melbourne region. We are now proving the effectiveness of our approach in infill development.

“Over the past 18 months, our commercial development transactions across Melbourne alone have reached in excess of almost $1 billion in value, and we will continue to apply our bespoke marketing approach across diverse asset types.”

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