Urbex Buys Out Babcock & Brown For $250 Million Ascot Vale Housing Project

Urbex Victorian development manager Renato Calandro confirmed the developer purchased BLP’s interest in the project last month. The consortium paid Orica $35 million for the Ascot Vale site in 2003.
 
Mr Calandro said marketing and construction of the new village started this week. Upon completion in 2013, Ascot Chase will include 400 new homes and is expected to accommodate about 1500 residents.
 
He said homes in Ascot Chase start from $550,000 for a two bedroom terrace, and rise to $1 million for a 4-bedroom townhouse with premium views.
 
“We are offering purchasers a choice of designs that celebrate the architectural heritage of Ascot Vale, and can be individualised with a range of interiors, exterior colours and landscaping,” he said. “Each home design is unique and handpicked for each Ascot Chase streetscape”.
 
The development abuts the Walter Street Reserve to the east and Fairbairn Park, the Riverside Golf Course and the Maribyrnong River to the west.

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Marc Pallisco

A former property analyst and print journalist, Marc is the publisher of realestatesource.com.au.

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