Moremac Property Group's FY 22-23 Results Highlight Deanside, Clyde North, and Sunbury Developments
Victorian based developer, Moremac Property Group, has witnessed remarkable growth during the Financial Year 2022-2023 through substantial sales traction in the ever-changing property market.
Date
29.08.2023
Author
Moremac Property Group
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Among the highlight of this successful year were 370 sales and 680 settlements across Victorian estates. Notably, Deanside Village in the Western suburb of Deanside emerged as the top-performing estate for sales, followed by Smiths Park in Clyde North and Kingsfield in Sunbury.
In addition to consolidating its presence in Victoria, Moremac embarked on interstate operations, securing a project in Queensland, called South Place in Deebing Heights. Early indications of the project are positive with $6.3 million dollars’ worth of sales achieved in one day for the first stage of South Place, which is a clear indication of the demand for land and housing in the state and region.
The South Place project is part of the Ripley Valley Priority Development Area (PDA) designated by the Queensland State Government to provide much needed housing supply in the rapidly growing South-East Queensland region.
The site will incorporate over 900 homes, a new local town centre, a future primary school, over 40 hectares of public green space, four parks, and an extensive bike and pedestrian network.
Moremac also secured a new site in Victoria located at 350 Narre Warren Road, Cranbourne East and presents the last chance to build a new home in the established postcode offering unparalleled amenity in the already thriving locality.
The 64-hectare site will consist of land, house and land and townhome options, with future residents set to benefit from the ideal location with close proximity to the centre of Cranbourne which includes an extensive range of schooling, entertainment and retail options.
The final figure of lots will be between 500 and 800 to be dictated by the Croskell Precinct Structure Plan.
Lachlan Moore, Sales and Marketing Director at Moremac, expressed his pleasure at the solid results achieved during the 2022-23 Financial Year and noted a promising start to the current financial year.
He remarked, "It's been a significant year of growth for Moremac, and we look forward to what the next year has in store for us."
Amid this growth, Moremac's head office staff expanded by 25%, bolstered by key appointments, including Financial Controller Ming Lam, who recently joined the team.
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