The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
FULL PROGRAM RELEASED FOR URBANITY-25 CONNECTING PROPERTY LEADERS ACROSS THE ASIA PACIFIC
FULL PROGRAM RELEASED FOR URBANITY-25 WHERE THE PROPERTY INDUSTRY CONNECTS
VIEW FULL AGENDADETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
print
Print
ResidentialStaff WriterTue 19 Aug 14

Construction Commences To Transform Pakenham Racecourse

A

Construction has commences on 

ISPT’s newest residential community Ascot located in the former

Pakenham Racecourse in south-east Melbourne.

The historic site was bought by the unlisted property funds manager in 2012 for $26 million and encompasses a 27 hectare infill parcel.

Upon completion the project will have an end value in excess of $80 million.

Since launching to the public earlier this year, over 75 per cent of the first release has sold and the estate’s first roadways linking the development to the existing town centre are now underway.

ISPT’s CEO Daryl Browning said the project presented a unique opportunity for local purchasers to move into an established area with direct access to existing amenity and infrastructure.

“Most new developments are located in areas of Melbourne where the delivery of infrastructure may be years away,” Mr Browning said.

“The benefit of this project is its unique position located at the heart of an existing township.

“We are currently building a roadway that will link the Ascot community directly into the town centre, meaning that once complete Ascot will become a natural extension of the existing town.

“The project will also pay homage to the site’s unique heritage by either retaining or replicating elements of the site’s racing history and incorporating them into some of the parks.”

Once complete the 500+ lot community will include an innovative mix of traditional and townhouse-style homes as well as an abundance of public parks, quality streetscapes and striking architectural form throughout the project.

The existing Pakenham Creek bed will be regenerated and developed as a key feature of the master plan and will provide a number of opportunities for high quality creek-front and park-front homes.

Ascot represents the second greenfield site ISPT has developed in its own right, with ‘Forsyth Park’, a 450-lot project in Melbourne’s west, launching to the market in 2011.

ResidentialAustraliaConstructionConstructionSector
AUTHOR
Staff Writer
"TheUrbanDeveloper.com is committed to delivering the latest news, reviews, opinions and insights into the best of urban development from Australia and around the world. "
More articles by this author
ADVERTISEMENT
TOP STORIES
Qld Budget 2025-26 Brisbane City
Exclusive

Billions Promised, Now Deliver: Industry’s Qld Budget Verdict

Vanessa Croll
6 Min
Medium Density housing in NSW
Exclusive

NSW Budget ‘Groundbreaking’ $1bn Guarantee to Unlock Housing

Leon Della Bosca
7 Min
Exclusive

Azure’s Trent Keirnan on Playing the Long Game

Taryn Paris
5 Min
Exclusive

Private Credit Surge, Skittish Buyers Force Banks to Loosen Presale Rules

Taryn Paris
5 Min
Forme's James Place on James Street, Fortitude Valley Brisbane
Exclusive

Forme Pushes the Boundaries on James Street Precinct

Renee McKeown
4 Min
View All >
Hotel

Authenticity Over Opulence Key to Luxury Hotel Success: Robbyn Carter

Taryn Paris
An artist's impression of the Moncrieff Group Centre Woolworths. Source: ©Woolworths Group - Clarke Hopkins Clarke
Residential

Woolworths Wins $50m Moncrieff Mixed-Use Project

Leon Della Bosca
the rooftop pool of an apartment building in kangaroo point by mosaic property group
Residential

Mosaic Forgoes PR, Secures $205m Kangaroo Point Sales

Renee McKeown
No PR, no public release—the developer reveals how it sold 85 per cent of the apartments in its Kangaroo Point project…
LATEST
Hotel

Authenticity Over Opulence Key to Luxury Hotel Success: Robbyn Carter

Taryn Paris
3 Min
An artist's impression of the Moncrieff Group Centre Woolworths. Source: ©Woolworths Group - Clarke Hopkins Clarke
Residential

Woolworths Wins $50m Moncrieff Mixed-Use Project

Leon Della Bosca
3 Min
the rooftop pool of an apartment building in kangaroo point by mosaic property group
Residential

Mosaic Forgoes PR, Secures $205m Kangaroo Point Sales

Renee McKeown
2 Min
Residential

Scape Scoops Up Aveo in $3.85bn Deal

Taryn Paris
3 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/construction-commences-to-transform-pakenham-racecourse