ID_Land buys Armstrong Creek, Gisborne sites
ID_Land has snapped up two more housing estate sites.
In the biggest deal, the group is paying $100 million for a 266 hectare parcel in Gisborne.
About a third (85.91ha) – 189 Ross Watt Road or Lot A – is zoned for low-density residential; it has the potential to make way for 700 dwellings.
The balance – facing Lawson Rd, Black Forest Drive and Allison Lane – is rural conservation.
Biggin & Scott Land’s Frank Nagle, Andrew Egan and Callum Williamson were the agents.
Elsewhere in the suburb, ID_Land is marketing a housing estate, Willow, on a 76ha site acquired for $61.1m in 2018.
Armstrong Creek
In a second deal, ID_Land has purchased a residential development site at Armstrong Creek, south of Geelong.
On Barwon Heads Rd, the property is an amalgamation of lots (story continues below).
The developer said it intends to create a village, Haymont, with c400 dwellings, worth over $100m upon completion.
ID_Land now owns four land parcels in the area.
Title Capital
The Armstrong Creek acquisition is the second sealed by Title Capital – a new ID_Land private funds manager.
The outfit will allow wholesale investors and family offices to co-invest in residential developments.
It will be managed by company directors Matthew Belford and Jeff Garvey.
Title Capital, Shape Homes and ID_Land will now sit under the newly created ID_Corp group of companies, a statement said.
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