36 townhouses planned for home in new premier’s seat
A Melbourne developer has bought three distinct residential building blocks – one for a townhouse project already attracting scrutiny in the seat of the new premier, whose recent controversial planning decision encouraged it.
DM Property and joint venture partner, Ark Capital, are projecting developments with an end value circling $82 million for the lots at Niddrie and Parkdale in Melbourne, and Shepparton.
A total 111 dwellings and residential lots are mooted.
The bulk will be townhouses, exploiting the Victorian government’s Townhouse and Low-Rise Code – contentious for, amongst other things, being rushed, announced in February, 2025, taking effect the month later, with effectively no industry or community consultation.
The plan aims to streamline approvals for qualifying projects while limiting neighbours’ ability to challenge compliant developments at VCAT.
The Andrews-Allan-Carroll government hopes it will contribute to making Melbourne the country’s “townhouse capital” despite concerns that plan would significantly change suburban character and liveability.
The ALP chose to do this after rejecting other options to boost housing supply including amending the Urban Growth Boundary (which would have cost it more, requiring infrastructure like roads).
It also opted not to rely on existing council planning schemes, which under the Planning Policy Framework are required to identify sufficient land and development capacity to accommodate at least 15 years of housing growth.
The deals comes 16 months since realestatesource.com.au reported DM Property paid Ryman Healthcare $9.1m for a Wheelers Hill site – part of the ex-Brandon Park Secondary School – with plans for 37 townhouses.
Townhouse projects
DM Property was established in 2022 by former ID_Land executives Brendan Mullan and David Dordevic.
Its development pipeline also includes Milli in Brighton East, due for completion shortly, with 28 townhouses.
Another project was recently finished: Early 3191, in Sandringham – with 36 townhouses.
The Niddrie proposal was lodged with the Moonee Valley City Council in June; dubbed Rosetta, on micro 69 square metre blocks, they will rise two and three levels. Some 360 car movements are expected a day. No visitor parking is planned.
Local objections have been lodged.
DM Property paid $5.61m for this site, 67 Nolan Street, in December; Savills’ James Latos, Julian Heatherich, Beau Bakhtani and Benson Zhou were the agents.
With a single dwelling, the 5355 sqm parcel falls near the Niddrie Activity Centre (continues below).
It was marketed under the Housing Choice and Transport Zone 2, permitting medium density development up to four levels.
The planning application seeks 36 townhouses.
Niddrie, also the seat of new premier, Ben Carroll (right), is about 11 kilometres north-west of Melbourne’s CBD.
DM is also planning 23 townhouses at Parkdale, 23km south-east of town.
The company has appointed Martino Leah Architecture as architect for it and the Niddrie projects. Design by Golden will design interiors while CDA Design Group will oversee the landscape architecture.
DM doubles down in Shepparton
The Shepparton block will make way for a low-density greenfield subdivision, with 52 lots.
The acquisition adds to DM Property’s exposure to the regional market through Uptown in Shepparton North.
That project is a larger master-planned land subdivision, with more than 200 lots planned across about 21.4ha.
The new acquisitions form part of a strategy to balance medium-density built form with land subdivision across metropolitan and regional Victoria, Mr Mullan said.
“A key pillar of our acquisition strategy is identifying opportunities that can deliver a meaningful price break relative to an area’s median house price, allowing priced-out buyers to remain in the communities and suburbs they already know and love,” according to the executive.
The group would continue building its medium-density portfolio alongside apartment and greenfield projects, he added.
“We are going to continue growing our medium density portfolio alongside our apartment and greenfield projects.
“Our plan is to always have a 50:50 mix between land suburbs and built form across metro and regional Victoria, ensuring an ideal mix between affordability, location and space so we can cater to buyers across the market”.
Ark Capital is a joint venture partner for the Wheelers Hill project and the 500-plus-lot Clearwater estate at Colac.
Subscribe to our newsletter at the bottom of this page.
