Earlier this month the SOURCE revealed the first villas would be built at its first village in Cranbourne North, 39km south-east of Melbourne’s CBD, by the end of the year.
As the photograph shows, look at the numbers of seniors at the launch of the village organised by Linda Postma, Summerset’s State Sales Manager Victoria.
In May, The Source reported its second village, a $140M “absolutely huge” integrated model at Chirnside Park, 32km north-east of Melbourne's CBD, had been approved.
Now it can be revealed City of Monash Council has given permission for Summerset Group to build a boutique medium-density village on land it bought in Oakleigh South, 17km south-east of Melbourne’s CBD.
“We undertook extensive community engagement to ensure we developed a proposal that met the community needs and expectations and were pleased that the local community were supportive,” said Chair Mark Verbiest and CEO Scott Scoullar in Summerset Group’s 2023 Half Year Report.
The business, which said it will invest NZ$1 billion into its seven villages in Victoria, recorded a net profit of NZ$133.1 million (NZ$134.6M 12 months earlier) due to reduced property value increases as fewer units were built.
Summerset Group has a land bank of over 2,100 units (including 466 care beds) in Victoria.
The SOURCE: Summerset Group know its co-location product is highly desired in Australia.
