Following a string of strategic deals in the state's growth corridors, Resimax Group has acquired more than 700 hectares of new land across Metropolitan Melbourne with an estimated end house and land value of $8 billion. Together with their current portfolio, including flagship project Eynesbury, these acquisitions cement Resimax Group as one of Victoria's largest and most active private developers. 

Combined, Resimax Group has amassed over 1,400 hectares of developable land, with the  anticipation of delivering over 22,000 lots in partnership with its in-house builder Tick Homes.

The developer says the estimated end house and land value of all delivered and newly acquired land lots  will total over $17 billion. 

Maintaining its focus on developing within the West and North Precinct Structure Plan (PSP) growth corridors of Melbourne, Resimax Group's recent site acquisitions, all within 50 minutes of Melbourne’s  CBD, will translate into over 10,000 lots: 

• 274 hectares in Beveridge (North) 
• 115 hectares in Wallan (North)  
• 148 hectares in Sunbury (Northwest) 
• 116 hectares in Rockbank (West) 
• 71 hectares in Melton (West)  

This acquired pipeline will provide affordable land lots for Melbourne homeowners and further enhance Resimax Group's build-to-rent (BTR) model.

The developer plans to progressively make the land lots available for public purchase in 2025, with 500 of the 10,000 lots held as designated build-to rent stock across various projects. Resimax Group plans to construct and lease the BTR rental homes  to tenants by 2027, following the roll-out of stock in their current BTR portfolio. 

Founder and Managing Director of Resimax Group, Aziz "Ozzie" Kheir, says the developer has  ambitious plans to deliver 1,000 new homes for Melburnians every year for the next five years, from  existing and future developments. 

"Resimax Group has strategically acquired over 10,000 new land lots in Precinct Structure Plans (PSPs), some of which have readily available infrastructure, allowing us to fast-track the delivery of  affordable housing stock into Melbourne, subject to approvals. 

"Resimax Group has set its sights on delivering a high volume of affordable family homes in relatively  quick succession, at a time when housing supply is facing record lows," said Mr Kheir. 

Resimax Group acquired the land parcels during a series of opportunistic deals from 2020 to 2022.

Mr Kheir said the combination of market uncertainty and low immigration during the pandemic created a  unique position for the developer and the ability to accumulate a significant pipeline of land for  affordable housing. 

"We struck the majority of our funding deals during the pandemic, remaining optimistic during a time  when the market was fearful and uncertain of the future. As a business, we are constantly looking for new opportunities, and that didn't slow down after the effects of 2020. Remaining entrepreneurial allowed us to structure the acquisition deals to benefit the business in the long term. 

"This strategy will allow Resimax Group to deliver a critical volume of housing in northern and western  growth corridors of the state, where land parcels are still affordable and migration is booming," Mr  Kheir said. 

According to recent data from the National Housing Supply and Affordability Council, Australia is  projected to miss its 2029 housing target by 160,000 homes. Resimax Group says additional  resources on a state level need to be put in place now to fast-track PSP approvals. 

"Parcels of land in progressed PSPs can be fast-tracked for development approval. This includes land  located close to existing infrastructure, such as train stations and road networks. 

"If additional resources are put into place on a state government level now, developers such as  Resimax Group can deliver housing faster, and work towards closing this housing shortfall over the  next five years," Mr Kheir said. 

During the masterplanning phase, Resimax Group consulted with various stakeholders to ensure  maximum affordability for its purchasers, developing a compact detached housing model.

The model  involves decreasing the average lot size across their developments to 300 – 350 square metres, 20 – 30 per cent less than the average Greater Melbourne residential block size of 429 square metres (according to ABS). The model has been previously trialled in the developer's other estates with great  success. 

"From surveying residents actively building and living in our estates, we have found that a majority are  increasingly sacrificing backyard space to prioritise the size and scale of their internal living spaces. 

"We know that Melburnians want detached housing. We have looked at the feasibility of townhouses  and apartments on a similar footprint, but compact detached housing will deliver something of longer term value and use to purchasers," Mr Kheir said. 

Mr Kheir says this planning model has already been adopted in New South Wales and is yet to gain  widespread acceptance in Victoria.  

"Compact detached housing will be key to the future of housing availability and affordability across the country. The concept of the Australian Dream has changed, and large backyards are no longer critical  for family homes, provided there is ample open space for kids to play outdoors nearby. 

"In Eynesbury, we developed infrastructure in conjunction with the local council that afforded  residents parks, walking tracks and outdoor exercise equipment that was proportionate to future  population numbers," Mr Kheir said. 

As part of the process, Resimax Group will pre-design the compact homes before they go to council approval and then make the lots available to purchasers via pre-determined house and land  packages.