In a significant move that underscores its commitment to addressing the pressing demands of Melbourne’s real estate market, 888 Property Group has announced the acquisition of two prime land parcels in the city’s rapidly expanding western corridor. With a combined value of $200 million, these strategic investments not only reflect the company’s ambitious growth trajectory but also aim to provide essential residential and industrial solutions for the region.

The first acquisition, a substantial 48-hectare site located at 562 to 600 Leakes Road in Bonnie Brook, was purchased for $100 million. This site is set to facilitate the development of up to 1,000 homes, aligning with the Warrensbrook Precinct Structure Plan. 

As Melbourne’s population continues to surge, the demand for quality, affordable housing has never been more critical. This Bonnie Brook project represents a pivotal step in 888 Property Group’s strategy to meet this demand and enhance the livability of Melbourne’s western suburbs.

“This project marks a crucial step in our growth strategy. The demand for quality, affordable homes continue to rise, and we are committed to delivering a residential community that enhances the lifestyle and liveability of Melbourne’s western suburbs,” stated Mike King, 

Founder and Managing Director of 888 Property Group. The Bonnie Brook site is strategically located near key amenities and transport links, making it ideal for families and first-time buyers seeking a well-connected community in a rapidly developing area.

In addition to the residential component, 888 Property Group has also secured a second site at 687 Hopkins Road in Truganina, also for $100 million. This 42-hectare parcel, acquired through an off-market transaction, is set to be transformed into a major industrial hub. As part of the Chartwell East Precinct Structure Plan, this site addresses a critical need for logistics, freight, and warehousing solutions in Melbourne’s burgeoning industrial market, where demand consistently outpaces supply.

"This acquisition is a vital opportunity to address critical supply shortages in Melbourne’s industrial market. The Truganina site will deliver a much-needed industrial hub to support the growth of Melbourne’s west, in line with the local Structure Plan,” explained King. The location’s significant main road frontage will enhance accessibility for businesses, ultimately fostering economic growth and job creation in the area.

888 Property Group’s investments are a testament to the company’s strategic foresight in navigating Melbourne’s urban growth challenges. Over the past 13 years, the firm has built a solid reputation for acquiring strategic land holdings around metropolitan Melbourne, successfully achieving planning and rezoning outcomes before divesting. Now, with a strong financial foundation and a commitment to delivering impactful developments, 888 is poised to take on these significant projects.

The Bonnie Brook and Truganina acquisitions not only reflect 888 Property Group’s dedication to addressing the housing crisis but also highlight the company’s balanced approach to development. By targeting both residential and industrial markets, 888 aims to create integrated communities that cater to the diverse needs of Melbourne’s population.

“As we move forward, it’s time to roll up our sleeves and get to work. These acquisitions will allow us to contribute significantly to Melbourne’s urban fabric, ensuring that both residential and industrial needs are met in this vital part of the city,” King added. 

The company’s commitment to sustainability and quality is evident in its ongoing projects, which prioritise environmentally responsible development practices. By focusing on creating well-planned communities that offer a high standard of living while addressing industrial demands, 888 Property Group is setting a benchmark for future developments in Melbourne.

With the Bonnie Brook project situated near established communities like Caroline Springs, Mount Atkinson, and Woodlea, and the Truganina site strategically positioned to capitalize on Melbourne’s industrial growth, these developments are set to play a crucial role in shaping the future of the region. 

As the company embarks on these ambitious projects, 888 Property Group is not only reinforcing its position as a leader in property development but also contributing to the overall growth and sustainability of Melbourne’s urban landscape.

For inquiries regarding the Bonnie Brook and Truganina sites, interested parties can reach out to the respective agents: Zaynoun Melham from RPM Group for Bonnie Brook, and Andrew Macqueen and Cameron Hunter from X Commercial for Truganina.