LAWD strengthens its position in Melbourne’s property market with metropolitan developments

LAWD has made a notable advancement in the Melbourne metropolitan development sector by completing three strategic transactions in the city’s inner to middle-ring suburbs. Highlighting this series of transactions is the sale of a prime development site located at 59 Johnston Street, Port Melbourne. The property, which is situated less than 200 meters from Port Melbourne Beach, has received approvals for the construction of nine luxury apartments. These apartments, featuring designs by Kennon, promise prospective residents stunning views of the city.

The acquisition of this Port Melbourne site follows LAWD’s successful sale of two rare infill sites, marking a decisive step in the company’s evolution into a leading specialist real estate firm within Australia. This move signifies LAWD’s ongoing expansion beyond its original focus areas of agribusiness and greenfield developments.

One of these significant sales included a substantial parcel of land at Twenty-six Waldheim Road, Bayswater, selling for $7.2 million. Classified under the General Residential Zone-Schedule 1, the 3.22ha site represented a rare opportunity to obtain a substantial holding in the competitive Inner-Eastern corridor of Melbourne.

Another notable transaction was the sale of a 2,486 sqm corner plot in Fawkner, which features a church, hall, three-bedroom house, and various amenities. Located 11.6 km north of Melbourne’s city center, this site underscores LAWD’s expertise in handling diverse property transactions.

Lukas Byrns, LAWD Development Director, emphasized the firm’s proficiency, saying, “I think this very clearly demonstrates the ability of the LAWD team to consistently achieve great outcomes for our clients regardless of business conditions.”

Additionally, LAWD has announced that its project marketing division, LAWD Projects, has begun collecting interest for a new residential development in South Kingsville, named Kings Lane. Under the leadership of Director Henry Burbury, the project will offer a limited collection of 25 luxurious three- and four-bedroom townhomes, situated just eight kilometers from the Melbourne CBD, with an official market launch scheduled for April.

Peter Sagar, LAWD Development Senior Director, highlighted the strategic recruitment of leading professionals with a track record in metropolitan development and project marketing as a key factor in LAWD’s expanded market offerings. “We are extremely focused on identifying and meeting the unique requirements of key clients with diversified assets regardless of location,” he remarked.

Sagar also reflected on the company’s success and future ambitions, stating, “It’s an exciting time to be in the market and LAWD is fulfilling its goal to be a significant presence in driving Melbourne’s ongoing evolution and economic growth. Already, LAWD has a proven sales record in selling large englobo sites, industrial sites, master-planned communities (and super lots within master-planned communities) in all greenfield growth corridors in the Melbourne region. We are now proving the effectiveness of our approach in infill development. Over the past 18 months, our commercial development transactions across Melbourne alone have reached in excess of almost $1 billion in value, and we will continue to apply our bespoke marketing approach across diverse asset types.”