The agreement signed by the company’s communities business is for a 438 hectare site located approximately 30km south-west of Melbourne, Australia, in the Wyndham growth corridor. The project is strategically located near the Princess Highway which is the major transport corridor between Melbourne and Geelong and also adjacent to the proposed Regional Rail Link.
The Werribee community will have approximately 4,000 homes and includes the delivery of community infrastructure including four schools, local community, sport and recreation facilities and a neighbourhood shopping centre.
The project has an expected development value of greater than A$1 billion and will be delivered over 10 years, with the first sales expected in mid 2012.
Lend Lease group chief executive officer and managing director Mr Steve McCann said that securing the project demonstrates the success of the group’s approach in Victoria and its long-term commitment to the state. “Lend Lease has a record of delivering benchmark communities in Victoria, such as Caroline Springs, Edgewater, Craigieburn and Laurimar. Our vision for Werribee is to deliver a sustainable community leading the market with new innovations in urban design, housing design and community development.”
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