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Tarneit Melbourne Grove Estate TARNEIT MELBOURNE GROVE ESTATE 21ST CENTURY Due Diligence Kit PROPERTY CONTENTS THE ESTATE 3 THE GROWTH AREA 4 LOCATION MAP 5 MASTERPLAN 6 LOCAL AMENITIES 7 DEMOGRAPHICS 8 RESIDENTIAL DEVELOPMENT FORECAST 9 INVESTMENT MERITS 10 STATE OF VICTORIA SUMMARY 11 STATE OF VICTORIA ECONOMY 12 LOCAL PROJECTS 13 LOCAL INFRASTRUCTURE 14 RENTAL PROPERTIES IN LOCAL AREA 16 NEWS ARTICLES 17 LAND SUPPLY PIPELINE 33 2 21ST CENTURY PROPERTY THE ESTATE Located off Doherty's Road, Melbourne Tarneit is also home to several childcare Grove Estate offers everything you could centres, a police station, medical centre, wish for and more. The first stage will be train station and shopping centre. 10 acres encompassing 60 lots. These Lots will offer 3-5 year options and the This development is within the current estate offers a great balance of a quiet, Urban Growth Boundary and the council Stage 1 will yet convenient life. has planned for it to be rezoned to residential after 2017-18. It's located on A rural-urban fringe suburb located PS no 1088. be 60 lots within the growth area of Wyndham City, the Melbourne Grove Estate is well For more detailed information about over 10 acres. supported by transport infrastructure with the PS 1088 that this development falls nearby bus and train services providing under visit www.mpa.vic.gov.au/Tarneit_ an easy transit to the Melbourne CBD North. and Geelong. Tarneit also has a number of schools established within its boundaries, including Thomas Carr College, Baden Powell Prep - Year 9 College and Tarneit Central College. There has been much residential growth occur in the Thomas Carr District, with other schools and shopping centres planned for construction. Construction of stage one of Tarneit Central Shopping Centre, on the south east corner of Derrimut and Leakes Roads, is expected to begin in 2015 and take 18 months to complete. Sources: Wikipedia 3 21ST CENTURY PROPERTY THE GROWTH AREA BOUNDARY ROAD BOUNDARY ROAD 1089 TARNEIT NORTH CONSULTATION APRIL / MAY 2014 k e e r C 1088 OAKBANK n o t le SCHEDULED FOR PREPARATION 2015-2017 e k Oakbank PSP is expected to include: S TARNEIT ROAD 1090 TRUGANINA DOHERTYS ROAD DERRIMUT ROAD • Four local sporting reserves and a PLANNING PANEL REPORT RECEIVED MAY 2014 possible regional sporting reserve • Three Government Primary School DOHERTYS ROAD DAVIS ROAD • One or two Government Secondary Schools. D ry Cree k n ai r D d a o R h t y rs MORRIS ROAD o F Regional Rail Link LEAKES ROAD F O R S Y T ISON ROAD H R O A Regional Rail Link LEAKES ROAD D SAYERS ROAD 1091 RIVERDALE PLANNING PANEL REPORT RECEIVED MAY 2014 Residential Business with residential Mixed use H Office O G AN Light industrial S RO AD Government Primary school Government Secondary school Potential Non-Govt School W e r r ib Local sporting reserves e e R Local parks i v e r Waterway corridor Note: This plan is subject to change. Refer to MPA web site ARMSTRONG ROAD Waterway (www.mpa.vic.gov.au) or contact Mark Brennan or Wyndham North PSPs (DRAFT) Dane Logan on 9651 9600 for further information. Status May 2014 Draft for discussion purposes only. Details subject to change without notice. 0 200 400 1,000 BALLAN ROAD 4 21ST CENTURY Sources: www.mpa.vic.gov.au PROPERTY LOCATION MAP Horsham Bendigo Seymour Mt Hotham Ararat Ballarat Melbourne TARNEIT Geelong Moe 0 300 Tarneit is under Kilometres 30 minutes to Melbourne CBD 5 21ST CENTURY PROPERTY MASTER PLAN PROPOSED PLAN OF SUBDIVISION 1491 DOHERTY'S ROAD, MOUNT COTTRELL 17 370m² 18 19 20 21 16 375m² 385m² 420m² 15 370m² ROAD 395m² 415m² 14 390m² 24 23 22 13 345m² 25 1155m² 345m² 305m² 12 355m² 315m² 11 310m² NORTH ROAD 10 270m² 26 30 9 270m² 395m² 28 29 8 315m² 27 336m² 400m² 400m² 400m² 7 375m² 34 33 32 31 6 375m² 400m² WEST 336m² 400m² 5 375m² 35 400m² 395m² LANE 1 2 3 4 MIDDLE ROAD 36 37 38 39 40 41 42 43 190m² 195m² 195m² 195m² 225m² 225m² 225m² 225m² 225m² 225m² 225m² LINK ROAD 235m² ELECTRICITY EASEMENT ROAD (IF REQUIRED) TEMPORARY ACCESS 44 45 46 47 CRESCENT 203m² 203m² 203m² 203m² 62 63 64 65 LANE 7287 01 360m² 360m² 360m² 360m² 375m² 48 315m² 49 61 60 59 58 270m² 50 330m² 330m² 330m² 330m² 270m² 51 SOUTH ROAD POWER 375m² HEAD & HUMPHREYS6 52 54 55 56 57 ST 375m² 53 295m² 300m² 300m² 300m² 21 CENTURY PROPERTY LOCAL AMENITIES Distance from estate to various local amenities: CHILDCARE SHOPPING CENTRES SERVICES Learning Ladder Day Care - 3.2km Wyndham Village Shopping Centre - Post Office - 8.4km 6.4km Future Kids Childcare - 3.9km Caroline Springs Shopping Centre - SPORT & RECREATION Goodstart Early Learning - 6.7km 17.3km Gym - 6.4km PRIMARY EDUCATION Brimbank Shopping Centre - 17.4km Fraser Street Reserve - 8.2km Cambridge Primary School - 6.6km House of Golf - 11.9km SUPERMARKETS Derrimut Heath Primary School - 6.6km Coles - 5.1km Swimming & Health Centre - 13.5km Mossfiel Primary School - 8.5km IGA - 5.7km Leisure Centre - 20.9km Truganina South Primary School - 8.9km Safeway - 6.9km HEALTH & WELLBEING SECONDARY EDUCATION Werribee Mercy Hospital - 10.9km Tarneit Senior Secondary College - DINING Derrimut Medicals - 13.8km 2.4km Shiraaz Ferntree Gully Indian Restaurant - 5.4km Western Family Medical Centre - 18km Thomas Carr College - 6.4km Subway - 10.6km Hoppers Crossing Secondary College - TRANSPORTATION 8.3km Alankrita Restaurant - 14.1km Hoppers Crossing Railway Station - Fresh Chilli Thai Restaurant - 17.5km 10.5km TERTIARY EDUCATION Victoria University Sunshine Campus - ENTERTAINMENT Melbourne Airport - 33.8km 20km Werribee Plaza Tavern - 8.3km Victoria University Footscray Campus - Cinema - 8.3km 23.6km Ten Pin Bowing - 13.7km Stadium - 18.9km Sources: Whereis.com 7 21ST CENTURY PROPERTY DEMOGRAPHICS MEDIAN AGE MEDIAN WEEKLY INCOME 29 YEARS $1,563 AGE STATISTICS FAMILY STATISTICS 60+ 0-12 Not 40-59 Married 1. 0 - 12 Years (24.25%) Married 13-19 2. 13 - 19 Years (9.03%) 3. 20 - 39 Years (40.42%) 20-39 De Facto 4. 40 - 59 Years (20.11%) 5. 60+ Years (6.74%) NATURE OF OCCUPANCY TYPE OF DWELLING Semi/Terrace Flat Unoccupied Owned Outright Owned with Rented Mortgage Separate House 8 21ST CENTURY Sources: Myboot PROPERTY RESIDENTIAL DEVELOPMENT FORECAST 9 21ST CENTURY Sources: Forecast ID PROPERTY INVESTMENT MERITS Tarneit has many of the factors savvy The surrounding infrastructure continues 5 YEAR GROWTH 19.14% investors should seek, including a fast to grow to accommodate the residents growing population, infrastructure and and includes a number of schools 12 MONTH GROWTH 5.07% efficient transport links. including Thomas Carr College, Baden Powell Prep - Year 9 College and Tarneit GROSS RENTAL YIELD 4.41% Tarneit has an ongoing growing Central College. population. The population of Tarneit is 21,690 and is expected to grow to There has been much residential growth 63,512 by 2031. occurring in the Thomas Carr District, with other schools and shopping centres Tarneit is now home to many new estates, planned for construction. Construction promising to support the forecast for an of stage one of Tarneit Central Shopping increased population. Centre, on the south east corner of In 2010, the Wyndham Bus Network was Derrimut and Leakes Roads, is expected extensively upgraded and now caters for to begin in 2015 and take 18 months to commuters from Tarneit. complete. Wyndham Village Shopping A new Centre, in the suburb's south, was A new railway line currently under completed in 2005 to serve the exploding construction, the Regional Rail Link, travels population in the immediate area. railway line is from West Werribee through Tarneit to Deer Park and will include a new railway Tarneit Town Centre, to be developed currently under station at Tarneit. The new station will over the next 10 years, is expected to be provide a much faster service than the located in the area loosely bounded by construction current Werribee railway line, which must Derrimut Road to the west, Leakes Road to pass though Altona and Footscray. the south, Skeleton Creek to the east and Dry Creek to the north. It will have car parking with 1,000 spaces, ensuring Tarneit becomes a prime regional area for those who commute to the city on a regular basis. Regional Rail Link will also connect the Melton and Werribee railway lines and re-direct Geelong V/Line trains from the Werribee Line. Regional Rail Link will open in April 2015, with Tarneit Train Station coming under metropolitan zone 2. Source: Your Investment Property Mag, Wikipedia, www.regionalraillink.vic.gov.au 10 21ST CENTURY PROPERTY STATE OF VICTORIA SUMMARY Victoria is a state in the south-east of The 2011 Australian census reported There are also tourist trams operating Australia. Victoria is Australia's most that Victoria had 5,354,042 people over portions of the former Ballarat and densely populated state and its second- resident at the time of the census. The Bendigo systems. There are also tramway most populous state overall. Most of Australian Bureau of Statistics estimates museums at Bylands and Haddon. its population is concentrated in the that the population may well reach 7.2 area surrounding Port Phillip Bay, which million by 2050. Melbourne Airport is the major domestic includes the metropolitan area of its and international gateway for the state. capital and largest city, Melbourne, which More than 75% of Victorians live in Avalon Airport is the state's second is Australia's second-largest city. Melbourne, located in the state's south. The busiest airport, which complements greater Melbourne metropolitan area is Essendon and Moorabbin Airports to The economy of Victoria is highly home to an estimated 4.17 million people.
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