The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FIRST RELEASE TICKETS ON SALE FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FIRST TICKETS ON SALE FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
SEE DETAILSDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Partner Lab
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
ResidentialLeon Della BoscaTue 06 May 25

Monark, Resolution Snag Infill Site in Melbourne’s North

Monark and Resolution Greenvale site

Resolution Property Group and the Liberman family-backed Monark Property Partners have paid $44 million for an infill site in Melbourne’s north.

The 15ha of vacant land at 800 and 820 Somerton Road, Greenvale, 20km from the CBD, is the developers’ second joint-venture after a Cranbourne West project.

The partners plan to develop about 300 houses and townhouses on the site for an anticipated end value of $135 million.

The site, bound by Mickleham and Somerton roads, is in an Urban Growth Zone. It was incorporated into the Urban Growth Boundary via the Logical Inclusions Process in 2012.

Development would proceed only after completion of the Somerton Road Precinct Structure Plan by the Victorian Planning Authority and City of Hume.

The planned community would comprise residential lots and townhouses, including affordable housing options, on lots from 186sq m to 512sq m with a 2ha linear park connecting the site north to south.

Resolution director Jeremy De Zylva said the masterplan aimed “to meet the high demand for housing, including affordable housing, in an undersupplied market ... close to employment, all of which supports the Victorian Government’s Housing Statement”.

Resolution and Monark's Cranbourne West site
▲ Resolution and Monark’s Cranbourne West site neighbours the Ranfurlie Golf Course. Image: Monark

Monark director Michael Kark said “[The] Greenvale West Precinct Structure Plan which surrounds our new Greenvale site is now entirely developed, with all estates now sold out.

“These are considered true infill suburbs and tend to have the highest median land values across the Melbourne greenfield market, which sets a good precedent for our project.”

The site is 8km from Melbourne Airport and Business Park, and close to Woodlands Historic Park, sporting facilities, schools and shopping centres.

Infrastructure improvements have been made of late at the nearby Mickleham and Somerton roads intersection.

Resolution and Monark expect planning approvals within three months, and to have lots on the market in the third quarter of this year. Construction is anticipated to begin early next year.

Monark Property Partners is partnering with Coff Property on a $46-million townhouse project at Prahran as well as a planned $26-million development at Elsternwick.

ResidentialVictoriaDeal
AUTHOR
Leon Della Bosca
More articles by this author
linkedin icon
ADVERTISEMENT
TOP STORIES
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
7 Min
Healthscope Hospital EDM
Exclusive

‘Once-in-a-Decade’ Opportunities Rise in Wake of Healthscope Collapse

Clare Burnett
7 Min
Exclusive

Parking Upsize Threatens Fatal Blow to Project Feasibility

Phil Bartsch
6 Min
One New Zealand Stadium BESIX Watpac
Exclusive

Rising to a Challenge: How BESIX Watpac Topped Australia’s Builders

Clare Burnett
7 Min
Exclusive

Rewards Outstrip Risk in SE Queensland Off-The-Plan Buys

Taryn Paris
7 Min
View All >
Sydney Fish Market Blackwattle EDM
Planning

Sydney Fish Market Rezoning Clears Way for 320 Homes

Clare Burnett
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
Sponsored

Fast Funds, Real Help—Woodbridge Capital Delivers Both

Partner Content
Developers don’t just need funds—they need help. Here’s the lender who’s been quietly delivering both for years…
LATEST
Sydney Fish Market Blackwattle EDM
Planning

Sydney Fish Market Rezoning Clears Way for 320 Homes

Clare Burnett
2 Min
Bankstown cbd in Sydney NSW EDM
Exclusive

Breaking Delivery Crisis Chokehold on NSW’s Biggest Housing Market

Vanessa Croll
7 Min
Finance

Fast Funds, Real Help—Woodbridge Capital Delivers Both

Partner Content
5 Min
Development

Melbourne Luna Park Revival Wins State Backing

Marisa Wikramanayake
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/monark-resolution-greenvale-infill-purchase-victoria