Griffith Group is gaining momentum in Victoria as it prepares its first greenfield project in the state after winning permit approval from the City of Casey.
The project was acquired in an off-market transaction from Brown Property last year and was scheduled for completion in mid-2025.
It is the second project in Victoria for the privately owned group after it successfully flipped a small bulky goods showroom at Sunbury and sold it a month later for almost twice what it paid.
The latest Meridian Village project was designed by Cottee Parker and includes a 1300sq m Dan Murphy’s with a drive-through, a 103-place childcare centre and a 68-seat Guzman Y Gomez drive-through pad site.
There is also a 2732sq m large format retail building, with national tenants Petbarn, Supercheap Auto and Jaycar, approved in the eight-month application process with town planner Human Habitats.
Griffith Group NSW director Pieter Engelbrecht said the site was introduced to them off market by Justin Dowers from Stonebridge.
“Melbourne has very good land sub-division developers, most of whom prefer to focus on the residential component of their development,” Engelbrecht said.
“Griffith Group specialises in commercial and retail developments, which results in a win-win outcome and a natural partnership when we acquire commercial super lots from residential land developers.”
The privately owned developer has $1 billion in projects across Sydney and South-East Queensland.
This includes multiple highrises along the Gold Coast as well as commercial projects on the way at James Street, Brisbane, and the Bunnings-to-Bayview-Centre homemaker conversion south of Sydney.
Engelbrecht said they decided to move to Victoria based on the underlying fundamentals and a successful first project at Sunbury.
“We are a growing business and on the lookout for more projects to add to the pipeline,” Engelbrecht said.
“We are currently conducting due diligence on several potential projects in Victoria, NSW and Queensland.”
