Potters Grove, Officer

Potters Grove, Officer is a 14.1-hectare site located in the Cardinia Shire, in south-east Melbourne and is a 50/50 joint venture between Folkestone and ID_Land. Construction commenced in October 2012 and the first stage of lots went to market in May 2013.

Potters Grove, Officer is a 14.1 hectare site located in the Cardinia Shire, ranked as having the fourth largest population growth in Australia from 2001-2011. The Cardinia Urban Growth Area is in Melbourne’s south east growth corridor and was created when the State Government extended Melbourne’s urban growth boundary.

As at 30 June 2016, 239 lots had been sold and settled with the remaining lot contracted in August 2016.

Potters Grove is forecast to deliver a total return of $4.5 million and an equity IRR of 26.8 per cent.

Potters Grove, Officer as at 30 June 2016

Sector Residential Ownership Interest 50%
Location Officer, Vic JV Partner ID Land
Area/Size 14.1ha FLK Equity Invested $0.5m
Option Acquired/Settled June 11/July 12 Forecast Completion September 2016
Total Lots 240
% of Lots Sold 99%
Forecast Project Value –
Gross Revenue
$44.4m
Forecast Completion March 2016

 

For more information on Potters Grove please visit pottersgrove.com.au

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