Diversified Melbourne developer Oreana is moving into the Queensland market with the acquisition of a prime 21-hectare masterplanned community that will deliver a new park,  housing, infrastructure upgrades and neighbourhood hub to Morayfield. 

The developer has acquired 11 properties on the corner of Petersen Road and J Dobson Road in Morayfield via specialist development site agents Brendan Hogan and Adam Rubie of  Colliers. With an existing approval for 252 lots, the current forecast is to bring the project to market in early 2025 with a retail sales launch and the commencement of civil works.  

The acquisition is Oreana’s first foray into Queensland and its first significant site acquisition outside of Victoria, where it has built its reputation through its integrated development and  construction model across medium density housing, early education and commercial. 

Its operations in Queensland are led by Oreana’s Project Director Nimai Hawkins, based in Brisbane. 

Oreana Managing Director and co-founder Tony Sass said the company’s Queensland  acquisition was part of a national expansion that is further bolstered by the recent completion  of its first early education project in Perth. 

“In Australia’s growth areas we see a huge opportunity to bring integrated housing and  community amenity together, servicing the needs of new communities,” he said. 

“Greenfield development is key to solving Australia’s housing affordability and supply issue and requires an approach that delivers housing alongside essential community and social infrastructure such as early education and retail, delivering critical social and economic benefits to these areas. 

“Over the past 12 months we have focused on placing ourselves in a position to take advantage of opportunities in the current market. We now have the ability and capability to expand nationally and see Queensland as critical to our success.” 

Oreana has a pipeline worth $3 billion across Victoria and is projecting to double its growth in less than four years, increasing GRV (gross realisation value) from $350 million in 2023 to an  expected $800 million by 2027. 

It plans to increase growth across its active sectors spanning early education, retail, residential built form and land development. This includes lifting its delivery of land lots from a current  average of 200 per year to up to 800 per year over the next three to five years. 

Hawkins said Queensland offered substantial opportunity as internal migration continues to drive population growth. 

“This acquisition stands out as one of the few DA approved sites of scale that has come to market in the burgeoning Moreton Bay growth corridor. This project fits Oreana’s vision of  delivering integrated communities with extensive on-site facilities, including retail and  recreational amenity.”

To support Oreana’s national expansion the company has placed an increasing focus on securing high-calibre hires, including luring Hawkins from Development Victoria in 2020. 

It has also appointed Kate Aston as Director of Marketing, Communications & Sales. With  noteworthy experience on the ground in multiple markets – Melbourne, Adelaide and Brisbane  – Kate has led teams who have successfully launched masterplan communities of state  significance for Peet, Avid Property Group and Wel.Co. 

Kate joins General Manager Ken Munro, also recruited for his national experience leading major award-winning developments for Frasers Property, Dennis Family Corporation, Dahua  Group Australia and MAB Corporation. 

“The decisions we are making all ladder up to a strategic purpose to turn our sights to new  markets, which will enable exponential growth over the next five years,” Sass said. 

“We have a lot of confidence in Australia’s growth areas and believe increased immigration and various government housing initiatives all bode well for ongoing expansion. 

“We see ongoing opportunity in growth areas interstate, where Oreana can deliver land lots, residential built form, convenience retail and early education. It is critical in these new areas that this social amenity and mix of residential product is available to residents from day one.”