AGENTS Fitzroys is expanding into the development site market with the appointment of market specialist Andrew Lepa as an associate.
Lepa is joining Fitzroys after four years at Oliver Hume, where he focused on broadacre and medium-density sales and acquisitions across Victoria, acting on behalf of private investors, developers and large property funds and selling around $400 million worth of land.
“We’ve been looking to establish a dedicated presence in this part of the market for some time and have been waiting to find the right people,” said Chris Kombi, director at Fitzroys.
“Andrew has a proven record and developed a strong reputation throughout the industry, and we look forward to working with him and to the strong results he will deliver across Melbourne and Victoria for our clients.”
Fitzroys’ expansion comes as Australia is set to receive a record intake of 400,000 migrants in FY23 and 315,000 in FY24.
“This appointment is a great opportunity to leverage our existing client base and provide additional opportunities for our clients. Fitzroys is making this expansion at a time of an unprecedented housing supply and demand imbalance,” added Kombi.
“Melbourne’s existing metropolitan development sites and land in its growth areas will be in high demand and require the facilitation of sales to expedite much- needed housing supply.”
Victoria’s population is also set to grow by more than 25% from 6.747 million in 2023 to 8.454 million in 2041.
“I’m excited to be part of Fitzroys’ expansion and get to work in establishing the agency’s dedicated presence in the broadacre and infill development site market at a significant moment in time for the sector, and delivering strong results for its new and existing clients,” said Lepa.
