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AVID strengthens Victoria foothold with $25m Melbourne acquisition

July 11, 2018 | IN Media Release and News | BY AVID | 2 min read

AVID Property Group (AVID) continues to strengthen its foothold in Victoria, today announcing a new $25 million, 205-lot residential project in the south-eastern growth suburb of Officer.

The site will be AVID’s third residential community in Victoria, with the Australian developer currently constructing the $1 billion, 1,658-lot master-planned community in Bloomdale, Diggers Rest and the 619-lot residential community Savana in Wyndham Vale.

AVID Victoria General Manager Peter Vlitas said the acquisition forms part of AVID’s ambitious national growth strategy, supporting its goal to triple the company’s size and value by 2021.

“AVID’s new Officer development will be our next project in the highly sought-after south-eastern growth corridor, just 50kms from Melbourne’s CBD,” Mr Vlitas said.

“With all planning permits already in place, construction is set to commence quite quickly in early 2019.

“Officer is well-placed to meet demand for the booming population of both Melbourne and nearby Dandenong CBD, creating more job opportunities and a wide range of housing options in the area.”

“This acquisition is just another step forward for AVID, playing towards our company ambition to expand our residential portfolio and geographic footprint across the eastern seaboard,” he said.

The Officer development will offer buyers a choice in lot sizes ranging from 200m² to 550m² and will feature a prominent one-hectare central park.

“The south-east corridor has long been a very popular location for families to move to, offering growth, education and employment opportunities all located within a really beautiful location,” Mr Vlitas said. “With four established schools located within a 100-metre radius and a further four in the surrounding vicinity, plus the metro train station and future Officer Town Centre only minutes from the site, Officer is an attractive choice for buyers looking for a good selection of facilities and local amenities.”

AVID will aim to complete the masterplan over the next three years, when the community will be home to more than 600 new residents.

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