Media Release: Glenvill Developments and Qualitas Partner to Deliver Bellfield, a New Community in Melbourne’s Inner North
17 August 2021
Glenvill Developments in partnership with Qualitas is proud to have been selected by Banyule City Council to develop the $220 million former Banksia La Trobe Secondary College site. Selected for our design excellence, environmental credentials, and experience in developing thriving precincts, Glenvill Developments will bring a diversity of housing stock as well as new community and retail facilities to the area. The investment continues the deployment programme of the Qualitas Real Estate Opportunity Fund 2 (QREOF2) as it seeks to partner with top-tier developers across multiple sectors throughout Australia.
Glenvill Group CEO Len Warson said the appointment by Banyule City Council was testament to Glenvill’s record of delivering high quality housing and community outcomes in design, innovation, and environmental sustainability.
“We are committed to sustainability in all we do and know this project will deliver a significant impact for the community of Banyule.
“Bellfield is located only 12.9kms from Melbourne’s CBD and bordering Ivanhoe, will be a unique offering, a chance to be part of a community when it is first built. Benefiting from a thriving local area, Glenvill Developments will provide what modern communities want and need, smarter and more energy efficient dwellings,” Mr Warson said.
The site will accommodate approx. 200 residential apartments, 46 townhouses and 72 loft dwellings. The first stage is expected to commence delivery in 2023.
“We are expanding our successful precinct development model pioneered at YarraBend where over the coming months close to 40% of the project will be completed, and close to 70% pre-sold for the balance of stages, with release to market of the unique Boiler House precinct expected later this year. Bringing our expertise and passion to developing Bellfield for the Banyule community is an exciting opportunity. We plan to have the first stage on the market in early 2022,” Mr Warson said.
Qualitas Global Head of Real Estate and co-Founder Mark Fischer said “we have a deep respect for the ability of Glenvill Developments to deliver integrated infill communities and their approach to creating housing for this market matches our view on underlying fundamentals.
“Market-leading product quality and creation of community, with a focus on sustainability will be the determining factors of successful residential projects over the coming years. This applies across medium density infill sites such as Bellfield, or our other high-rise investments. Glenvill Developments understand who the customer is for this project and what they want, and we are excited to partner with them,” Mr Fischer said.
Fischer added, “the Fund has now invested in projects worth a combined $1.85 billion, including over $330 million of equity capital deployed post the onset of COVID-19, highlighting the continued growth of our discretionary funds management model. Leading developers in the market have a choice of who they partner with by bringing in an equity investor. A key part of our offering is that we have full decision-making control on our capital, with a 14-year track record as a firm of investing as an equity partner with developers”.
Construction is due to happen in three separate stages over the next three to four years. Glenvill Developments are at the forefront of delivering projects that improve the lives of the community, support employment opportunities and ensuring ample open space and liveability in our projects.
“Built as a contemporary community, residents will have access to health and wellness activities, innovations in home technology and an environmentally sustainable lifestyle, as well as access to neighbouring parklands and open space,” Mr Warson said.
17 August 2021, Melbourne
For further information, please contact:
Kate Stokes, Head of Marketing and Communications
M: 0481 251 552
ADZ Collective – Glenvill Developments
Sofia Dedes, Head of Communications
M: 0400 512 618
This media release has been prepared by Qualitas Securities Pty Ltd (ACN 136 451 128) (Qualitas Securities), holder of Australian Financial Services Licence number 342242. Qualitas Securities and its related bodies corporate and affiliates constitute the Qualitas group (Qualitas).
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