SYDNEY: Aventus Group announced it has unconditionally exchanged on a 31,470 sqm development site adjoining Epping Home for $11.5 million from Kaufland Australia, with completion of the acquisition to occur in late July 2020.
“Aventus is excited to have secured this site which adjoins our current Epping Home centre. Epping is one of the fastest growing catchments of Melbourne, with the main trade area due to grow by 100,000 people or 36% by 2024,” commented Darren Holland, CEO.
“This high profile corner site is strategically located in metropolitan Melbourne, 20 kms from the CBD and positioned between the Epping train station and Epping Plaza; a major shopping centre anchored by Woolworths, Coles, Costco and over 230 specialty shops.
“This acquisition increases our Epping land holding to over 90,000 sqm and site coverage (or FSR) of the existing centre will reduce to 24% post completion. The land also has the benefit of being located in an Activity Centre Zone which is flexible and allows mixed use, retail, residential, office, medical and large format retail,” added Mr Holland.
“This acquisition will be funded through existing debt facilities and adds to the substantial land holding by Aventus, which is now over 1,200,000 sqm across 20 locations with 73% metropolitan and the majority being east coast locations in Australia,” he concluded.
Aventus is a group of innovative digital loan providers leading the financial progress of European and Asian clients since 2009. Aventus Group companies successfully run business in 11 countries.