Land & CommunitiesHudson FarrWed 12 Aug 26
DM Property, Ark Capital Grow Vic Pipeline with $82m Site Buys
Melbourne developer DM Property and joint-venture partner Ark Capital have added three sites worth a combined $82 million to the group’s pipeline.
The deal lifts its total portfolio value to $600 million.
Two of the acquisitions were medium-density suburban infill sites, one at Parkdale and the other at Niddrie, and are planned to yield 23 and 36 townhouses respectively.
The third site, a 3ha greenfield parcel at Shepparton, is expected to yield 52 residential lots.
For the Parkdale and Niddrie sites, DM Property has selected Martino Leah Architecture to design the schemes, with interiors by Design by Golden and landscape architecture by CDA Design Group.
DM Property director Brendan Mullan said that driven by ongoing concerns around affordability, scarcity, tax settings and cost of living, a growing number of buyers were choosing new builds to secure properties that offer capital growth and amenity-rich lifestyles at accessible prices.
“We believe Victoria, and Melbourne in particular, remains significantly undervalued relative to other major markets nationally,” Mullan said.
“We expect confidence to build up across the market in the medium term, particularly as interstate investment capital increasingly flows back into Victoria.
“Our long-term goal is to expand interstate, but these fundamentals make Victoria a strong opportunity which we’ll focus on for the time being.”
DM Property’s portfolio also includes a 36-townhouse site at Sandringham valued at $50 million, a 28-townhouse project at Brighton East valued at $48 million, and a 37-townhouse project at Wheelers Hill worth $47 million.
“We are going to continue growing our medium density portfolio alongside our apartment and greenfield projects,” Mullan said.
“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.”
The growing interest in Victoria’s townhouse market has been further stimulated by the introduction of the townhouse code, which has streamlined the planning process and accelerated the delivery of lowrise developments in inner suburbs.
This demand has also been supported by Federal Budget adjustments to negative gearing and capital gains tax specifically targeting newly built homes.
Ark Capital chief executive Peri Macdonald said the acquisitions reflected the firm’s approach to expanding their deployment footprint alongside proven delivery partners.
Ark Capital and Dm Property are also partners o the developer’s Wheelers Hill site, currently under construction ahead of its sales launch this quarter, and its 500-plus lot site at Colac, dubbed Clearwater, which is also under construction.
In DM Property’s broader townhouse portfolio, construction has recently finished at its Early 3191 development at Sandringham, while its Milli project at Brighton East is entering its final stages and slated for completion soon.
