News & Insights

10 Feb/20

Resimax Group settles largest mixed use zoned project in Victoria

Resimax Group has announced settlement of Eynesbury, a 828 hectare mixed use property development in Melbourne’s west.

Resimax Group has financed the project with the support of Maxcap Group and Nomura (Japan).

Managing Director at Resimax Group, Ozzie Kheir said after an exhausting 12 month process dealing with numerous stakeholders and complexities settlement occurred on 27 December last year.

“We thank the residents, council, consultants, vendors and funders for their support and patience throughout this process. It has been immensely challenging, but the dedication and persistence shown by all involved has allowed us to achieve this milestone,” said Ozzie.

“The funding secured for the project includes $25 million towards critical road infrastructure for the Eynesbury community. This will deliver a much needed second northern connection to Exford Road as well as a Southern connection to Ballan Road and the City of Wyndham.

“Both of these roads are progressing through design and planning approval processes and we anticipate delivery of each of them in the next 24 months,” he added.

Development Director Callan Ainsaar praised Melton City Council for their support throughout the transaction.

“The support of Melton Council throughout the settlement process has been critical, enabling us to put in place all approvals required to recommence construction on the first 259 lots,” he said.

“Construction is underway, and these lots will be delivered over the next 12 months. These will be the first lots delivered at Eynesbury in over six years.

“Additionally, Melton Council along with state and federal governments and sporting groups joined forces to invest around $9 million to build a new sporting and recreation precinct at Eynesbury, which is currently under construction and due to open in 2020.

“Current and future residents have a lot to look forward including a new state government Primary School that is currently under construction and taking enrolments for students in 2021.

“Eynesbury offers a broad range of existing and future amenities making it an enviable destination for everyone from first home buyers to families and retirees,” he said.

“We’re currently working to restore the golf course to its former glory and to renovate the historic Homestead that will reopen with a revamped food offering in the coming months,” he added.

Every weekend while the Homestead is being renovated, Resimax Group has been hosting a series of events, the Big Weekend summer series for residents and the wider community.

Food trucks, pop up bars, DJs, kids entertainment have been on rotation with special events held to celebrate Christmas, New Year’s Day and Australia Day. These popular community events will continue throughout January and February.

“One of the first things we wanted to ensure is that the sense of community was maintained, while the homestead was under construction. The family days have been a great way for us to meet and mingle with the community,” Callan said.

We look forward to formally relaunching the project with a new release of land lots in close proximity to the Primary School and sporting precinct in the coming months.