Goldfields secure Bass Coast masterplan community site

Leading diversified property development group Goldfields is continuing to invest in Australia's regional markets, securing a site in Grantville, on the east coast of Western Port, Victoria.

The $17.8 million purchase of the 13-hectare site will see around 160 lots created as part of a masterplanned residential community.

Strategically located between Phillip Island and Melbourne, and a stone’s throw from Grantville Pier, the estate will offer easy access to Western Port Bay and surrounding beaches, the Bass Highway, Phillip Island, natural bushland and nearby retail and food outlets. 

The acquisition bolsters Goldfields’ commitment to investing in regional centres, following the developer’s recent purchase of sites in Margaret River, Western Australia, and Shepparton, Victoria.

Goldfields’ Chief Executive Officer Lachlan Thompson said the new site was reflective of the property developer’s belief in Australia’s regional housing markets.

“This site represents the third residential masterplanned community Goldfields has acquired so far this year," Thompson said.

"We’re always searching for growth opportunities and are bullish on regional markets in areas with a diverse economy, healthy government infrastructure spend and good local amenities."

Goldfields’ National Director of Communities, Paul Cicchiello, said Goldfields saw an opportunity to purchase one of the last remaining sites along the Bass Coast.

“The iconic Bass Coast is being protected from overdevelopment by the local Council’s Distinctive Areas and Landscapes Program," Cicchiello noted.

"With limited supply in the region and demand for residential housing in regional Victoria increasing, Goldfields is excited to offer future residents a peaceful, well-connected coastal lifestyle. 

“Goldfields remains steadfast in its commitment to creating functional, quality housing communities in areas where people actually want to live.

"We’re expecting this new masterplanned community to appeal to sea changers from Melbourne, upgraders working the south-eastern suburbs of Pakenham and Cranbourne and local first-home buyers.

"This project will provide residents with an excellent coastal lifestyle in a sought-after region with easy access to Melbourne,” he said.

Construction is expected to begin in 2024.