Oreana Property has made one of its most significant greenfield land acquisitions to date – purchasing 125 hectares that forms part of the Peppercorn Hill community in Donnybrook.

The diversified Melbourne group has entered into a development agreement with Dennis Family Corporation for the delivery of about 1,400 lots, town centre, secondary school, sports fields and open space as part of Peppercorn Hill and with an estimated completion value of more than $700 million. 

Oreana joins two other landowners as key stakeholders in Peppercorn Hill, which will have around 5,000 lots upon completion and forms a major part of the Donnybrook-Woodstock Precinct Structure Plan in Melbourne’s northern growth corridor.

LAWD's Peter Sagar and Paul Callanan handled the transaction.

A planning permit is in place for the development.

Oreana Property co-managing director Tony Sass said the acquisition is a significant milestone for the company and reinforced Oreana’s leading role in delivering housing in Melbourne.

“We are pleased to be working with Dennis Family Corporation for the delivery of this large-scale master-planned community, which will provide much-needed housing, community facilities, and infrastructure in Melbourne’s northern growth corridor,” Mr Sass said. 

“This acquisition is a testament to our commitment to delivering quality residential communities that meet the needs of homebuyers, now and into the future.”

Darebin Creek runs through Peppercorn Hill, with the community to eventually feature 25 kilometres of connected paths and trails, creekside recreation areas, and neighbourhood parks and sporting fields upon completion.

Within the broader development, Oreana Property’s site will also house a town centre on a six-hectare site and secondary school alongside residential lots.

It will also link up to the future Outer Metropolitan Ring Road, which will connect the outer north with the Metropolitan Ring Road, Hume, Calder, Western and Princes Freeways.

Mr Sass said in every community it operated in, Oreana aims to create spaces and places that leave a legacy of connectedness and community pride.

“Oreana concentrates on delivering much-needed housing and services to growth corridors in Melbourne’s outer suburbs,” he said.

“At Peppercorn Hill, we have the exciting opportunity to be involved in developing part of an entire community from the outset.”

Dennis Family Corporation CEO, Peter Levinge said: “We look forward to Oreana joining our Peppercorn Hill land owners as we continue to develop and grow the vision for the thriving Peppercorn Hill community at Donnybrook.

“This residential community represents the ongoing rapid growth in the Northern Corridor, an area which we are proud to be part of now, and into the future.

“The vision for Peppercorn Hill is to connect its historic past and geographic landmarks with urban living and contemporary design.”