By Shelby Brooks
An end to Pakenham’s housing boom is in sight following the purchase of the last empty land site set to be developed into housing.
AVID Property Group is planning a 400-lot community for the 30.5-hectare site on Abrehart Road and, once developed, Pakenham will be a fully completed suburb.
The development will come to market in 2023 and is the last substantial greenfield residential development site in Pakenham.
The project will be AVID’s eighth Victorian project and will bring to Pakenham a fully master planned community, housing 1200 people and featuring more than 10 hectares of green space, park and recreation facilities and a range of housing options.
AVID Property Group chief executive Cameron Holt said the acquisition allowed the developer to expand its position in Victoria, on the back of its other seven communities across the State, including Hillstowe in nearby Officer which is 95 per cent sold.
“The Pakenham site is more than double the size of Hillstowe and is a clear statement of our intent to expand our portfolio and geographical footprint – building on our presence in the region and Victoria more broadly,” Mr Holt said.
“While economic conditions may have shifted due to the pandemic and broader global conditions, there remains extremely strong, borderline aggressive demand from buyers in this thriving South East corridor.”
Adjoining Abrehart Road and Princes Highway, the site is the last available greenfield lot of its size and calibre in Pakenham.
It sits adjacent to Deep Creek and its elevated position offers expansive surrounding views.
“We had a lot of competition in securing this land and rightly so. It’s the last significant greenfield site available in the otherwise tightly held area,” Mr Holt said.
“The site has great potential thanks to the natural topography and location, and we’re looking forward to bringing it to life over the coming years.”
AVID’s Pakenham site is within walking distance to Cardinia Lakes Shopping Centre, Pakenham Primary school, and the soon-to-be-completed East Pakenham Railway Station.
The banks of Toomuc Creek became known as Pakenham after the area was colonised by Europeans in the 1850s.
Michael and Catherine Bourke are considered the founders of Pakenham after they began operating a hotel along what is now the Princes Highway.
Local historian and long-time resident Audrey Dodson recalled what Pakenham was like when she first moved to the town in 1952 in her book Pakenham: Then and Now.
“Not much remains of early Pakenham,” Ms Dodson said.
“It was a country town.
“You got to know a lot of people. Walking down the street, you would generally saw someone you knew. You knew all the shop keepers as friends.”
