INTERGRATED development company Brico plans to develop a new $148 million housing estate in Melbourne's west, on a site it has bought from Becton.
The company bought the land for just under $9 million.
Managing director Brian Rule said he jumped on the opportunity to buy the land from Becton which sits adjacent to another Brico allotment – taking Brico’s total land cover to 24ha.
Development Manager Jamie Featherstone said the current land is in an area that offers an exciting future due to its close proximity to the CBD and has excellent freeway access to the city.
Rule said the extra land will boost the dwelling capacity of the Brico development (yet to be named) to a total of 440 dwellings.
In addition, the development will allocate a very generous amount of land to entertainment and leisure facilities, providing for tennis courts, an indoor theatre, a heated indoor pool, a spa, bowls, billiards room, a children’s play area, gardens, lakes and more.
The architectural and landscaping plans are underway with planning approvals expected in April 2008 and final completion by March 2014.
Featherstone said Brico is approaching the design with sensitivity, conscious of water issues and designing with environmental sustainability in mind.
“Plans are being drawn to capture and filter rain water onsite which will be used throughout the property. Grey water will be used to irrigate and reticulate on the garden ensuring that the grounds are kept manicured and green,” he added.
Brico recently completed the $84 million Silver water Resort in
Australian Property Journal
