Valad Opportunity Fund has made its first investment in residential land project with a $19 million purchase land holdings in Oran Park, south-western Sydney.
The 107 hectare Oran Park property is in a predominantly rural suburb earmarked by the New South Wales Government for future urban growth within the South Western sector.
The property is eight kilometres from the north-west of Campbelltown and 50 kilometres from the Sydney CBD.
Valad’s chief executive of real estate development Shaun Hannah said this is VOF’s first investment in a residential land rezoning project and it comes in an identified residential growth precinct in Sydney’s South West.
“Valad has completed a significant number of successful land developments including VOF’s recent investment in Regency Green.
“Valad is keen to work with state and local government authorities as well as adjoining land-owners to advance the development of a quality residential community housing project in this South-Western Sydney growth region.” he added.
VOF’s fund manager Todd Solomon said the acquisition represents a fantastic opportunity to purchase land at an early stage with significant value-adding potential through working with stakeholders in Sydney’s South West.
“VOF’s investors now have exposure to a new market, residential land, at a stage when residential land values have come off the highs experienced a few years ago and at a time when the pathway to re-zoning on this land parcel is much clearer.
“FOF is a listed multi-project development fund that invests in development and repositioning projects. This is VOF’s first investment in a residential project. VOF has invested across retail, commercial and industrial assets in Sydney and Melbourne,” Solomon added.
By Kathryn O’Meara