Victorian greenfield developer TW Projects has doubled down on its investment in the regional town of Warragul, which it believes is poised for strong performance.  TW Projects partnered with Monark to acquire the 16ha site at 321 Copelands Road, Warragul, for an undisclosed sum.  It previously sold in 2015 for $4.2 million.  One half of TW Projects, Albert Weddell , told The Urban Developer that Warragul was an affordable lifestyle hub that was experiencing strong population growth, one of the fastest in the country.  “We think Warragul is poised to perform strongly over the short to mid-term,” Weddell said.  “The transport connections are genuinely convenient, not just for the city but also for key employment hubs like Dandenong and the south-east. It offers strong local employment … excellent schooling, a picturesque landscape and a shopping and dining scene that’s really come into its own in the past five years. “For many people, living in a town like Warragul means you ’ re getting terrific value and you’re not giving up any of the big lifestyle essentials that matter.” ▲ Albert Weddell and Jack Townley paired up to take on Victoria ’ s regional greenfield market. TW Projects signalled it would revise the existing permit to create a yield of more than 200 lots and a childcare centre. “In terms of our site, we think it’s incredibly well-positioned. It directly borders a well-established area of Warragul that’s known for its beautiful landscaping and architectural homes,” Weddell said. “We’ll be delivering a mix of lot sizes and types to meet different needs — from first home buyers who are conscious of affordability, to families looking to upgrade to larger blocks, and retirees who are seeking something lower maintenance.” But converting enquiries into sales was still a slow burn in the regional and growth areas of Victoria, Weddell said.  “[It’s] one of the key hurdles … unlike more balanced markets, we’re seeing a much longer lead time—in fact, some of our recent contract signings came from enquiries that first reached out 12 to 18 months ago,” he said.   “Right now, most of the contracts we’re securing are for smaller, more affordable lots, or for something with a unique appeal — like a lake-fronting block.  “For projects that aren’t able to offer competitively priced lots and are more focused on the upgrader market, enquiry is still healthy, but those buyers tend to be more cautious and are often waiting for market conditions to improve before making a move.” Weddell said TW Projects would continue to focus its acquisition strategy on significant regional towns within commuting distance of Melbourne and Geelong with strong project viability. 
