After more than a decade in business, Victoria-based ID Land has built its success on residential land development and is expanding into south-east Queensland. So why has it recently launched its own capital business?
In this TUD+ Briefing, ID Land director Matthew Belford explains why they’ve made the move.
ID_Land recently expanding its pipeline of projects in greater Melbourne with the acquisition of two new sites in Gisborne and Armstrong Creek.
The two deals bring ID_Land’s development pipeline to $2.5 billion.
“Historically, we’ve operated in all of the growth areas of Melbourne,” Belford said.
“Land subdivision is our primary business, we also develop townhouses and apartments on a more ad hoc basis.”
Belford explained that when looking back on the previous decade and where they wanted to be in the next 10, the question of capital had figured prominently.
He said that while this had not been a simple exercise, the launch of Title Capital was providing “capital flexibility”.
“If, say, our currently annual turnover was $300 million, and we want to get to $500 million, then we need to have capital flexibility, and this provides that,” Belford said.
“It means that if we find an opportunity we like, we can buy it ourselves, or partner with others, or use title capital.”
Belford said while ID_Land’s title capital business was in-house at the moment, it would look at offering it outside “for the right projects”.