By Mitchell Clarke
The developers behind Lakeside will transform an 83 hectare cattle farm into a brand new estate within the upcoming Pakenham East suburb.
The large parcel of land, which will eventually become known as the Averley Estate, will be made up of 1100 residential lots and an 11 hectare park.
The deal to create the one parcel of land was brokered by two farming landowners, Core Projects and development giant Lendlease.
Core Projects acquisitions manager Kane Malcolmson said he was “delighted” to have worked alongside one of the country’s leading developers in securing the site.
He said Core’s “depth of understanding”of the south east growth corridor helped to facilitate a “mutually beneficial deal” for both developer and landowner.
“We are proud to be growing our footprint in this region,” Mr Malcolmson said.
Developers have promised the land will be close to the suburb’s planned town centre and schools.
As revealed by the State Government on 2 January this year, work is set to soon commence on the new suburb.
Pakenham East will feature 7200 new homes, creating 1300 new jobs and adding more than $1 billion to the Victorian economy over the coming years.
Once complete, the suburb will have a local town centre and convenience centre, two government primary schools, one non-government primary school, one government secondary school, three community centres and 44 hectares of local parks and sports reserves.
The State Government said Pakenham East will have the “right infrastructure” to support the booming south east.
As reported by the Gazette in late 2020, the metropolitan train line will be extended to build a brand new Pakenham East station.
It’s understood the line extension will open to the community in 2024.
Bass MP Jordan Crugnale said the new suburb will “keep the dream” of owning a home within the reach of many Victorian families.
“Pakenham East will be a great place to live and raise a family, with jobs, schools, parks and affordable homes,” she said.
Lot sales within the estate are set to commence this year.
