Leighton Properties and Qualitas Purchase at Moonee Ponds
Gavin Tonnet 30 JUL 2014
A Stage One Development Application that comprises 162 apartments is in progress and expected to be submitted in July.
The 1.34ha site in the Moonee Ponds Town Centre was purchased from Reading International for $23 million.
The site will be transformed into a landmark, master planned community, which has the potential to provide over 800 apartments and 2,000 square metres of ancillary retail, with an end value of around $450 million.
Leighton Properties Managing Director Mark Gray said “The future development of this unique site with six street frontages in the heart of Moonee Ponds established and thriving town centre will be the first master planned development in the area and is set to become a landmark precinct”.
“The purchase of this site is consistent with Leighton Properties strategy to focus on inner ring urban renewal
sites which are in prime locations, close to transport links, retail and places of work.
The Moonee Ponds site is a great example of a transport orientated development, being immediately adjacent to rail, tram and bus links, coupled with a strong retail precinct built around the Moonee Ponds Central Shopping Centre and
the prestigious Puckle Street, which retains a strong village atmosphere and thriving patronage.
“Coming off the success of our WRAP project in Southbank, we are pleased to again be partnering with Qualitas. The project will offer a strong point of difference from those in surrounding suburbs with stunning, open north facing district views and south eastern views back to the CBD. The site has already been identified by Moonee Valley Council for high density residential development,” said Mr Gray.
Qualitas Advisory Board Chairman Mr David Krasnostein said "Qualitas looks forward to contributing to the integrated development of the Moonee Ponds town centre and furthering our relationship with Leighton Properties."
For more information
National Head of Residential
Phone+61 2 9925 6111
Email Gavin Tonnet