Sunland and MAB Corporation come together for residential development in Melbourne’s north
MAB Corporation is pleased to announce a partnership with the high profile Sunland Group in the development of its 104 hectare master planned estate – University Hill located in Bundoora.
Mr David Hall, General Manager University Hill Project, said that the deal involves a portion of the overall development that has been planned for high-quality residential.
“MAB Corporation is pleased to have a partner of such a high calibre on the project and look forward to a successful partnership that will enable the overall project to be delivered ahead of schedule,” Mr Hall said.
“The Sunland Group was chosen by MAB because it shares its commitment for high quality developments and has a strong reputation in delivering signature buildings in Australia and overseas.
“MAB will retain its overall planning role of University Hill and both companies will work together to ensure that the residential development maintains the high standards as set down in the development plan.”
Mr Hall also said that MAB Corporation will also commence development of the residential medium density component of the development and the company looks forward to having its product and plans ready for market towards the end of 2006.
“The residential precinct that the Sunland Group will develop totals 44 hectares and is referred to as Precinct Eight in the Development Plan,” Mr Hall said.
University Hill is one of the most innovative mixed-use precinct developments ever undertaken in Melbourne and will feature a street-based town centre that will be the economic and lifestyle hub of the development.
It will also include a business park precinct that has already attracted some high profile corporate names such as Siemens VDO and Primus Australia.
One the unique planning features of University is its overall integration of the natural environment as a key driver for the land-use allowing for the integration of landscaped public spaces and the opening of the Plenty Gorge to the general public.
The University Hill development was officially announced in October 2005 as a 10 year staged project and this announcement is expected to see the project delivered before the projected 2015.
MAB Corporation is an established developer in Australia and has delivered innovative, high quality commercial, residential and industrial developments since 1995. The company currently has $1.5 billion in projects completed or commenced, and generates approximately $200 million in annual sales, has net assets approaching $200 million and currently employs over 100 people. It also has a thriving funds management arm that has over $200 million under management.
Highly successful MAB Corporation projects include the $1 billion landmark NewQuay development precinct at Docklands, National Business Park, Global Business Park, Northcorp Industry Park, Translink Business Park and a host of other award winning developments.