Multipart Property has acquired a Hunter Valley site with plans for its first house and land project.
The 57 hectare parcel – five adjoining lots offered by private parties on Pioneer Road, Huntingview, north of Singleton – is setting the company back $12.655 million.
A circa-400 lot subdivision is planned.
The North Sydney developer recently completed a $140m complex, Bowline, with 97 dwellings and four levels of A-grade office in the Newcastle suburb of Wickham, about 75 kilometres from Huntingview.
“The Newcastle and Hunter regions have been strong performers throughout the COVID-19 pandemic and are poised for further growth, bolstered by an influx of people moving to the regions,” Multipart director Matt Zappia said.
“With flexible hybrid and working from home styles the new norm, we see even greater potential in the Newcastle and Hunter regions,” he added.
“City dwellers are moving at a higher than before the pandemic, with the quarterly flow of people from capital cities to regional areas during 2020 and 2021 some 15pc higher on average than the previous two years, according to the Regional Australia Institute” (story continues below).
Multipart diversifies product, geography
Multipart is behind several mid-rise, high density apartment projects including, in its home town, at Cronulla, Rose Bay, Ryde, Surry Hills and Waterloo.
Elsewhere in Sydney it is planning a Build to Rent project, La Vie, at Casula.
In 2015, the developer completed a townhouse complex in the regional town of Moree
Outside of New South Wales, Multipart recently completed a $14.5m residential building, Palisade, at Kangaroo Point, east of Brisbane.
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