Geelong-founded developer TW Projects has made its first metropolitan Melbourne acquisition, snapping up an 11.1-hectare site in Rockbank in partnership with Bori Liberman family office-backed Monark Property Partners to deliver a 257-lot residential community with an estimated end value of $100 million.
The deal for the site at 2331 Western Highway marks a significant step for the regional Victorian developer, which was founded in July 2018 by directors Jack Townley and Albert Weddell with a modest five-lot project in Lethbridge, near Geelong.
TW Projects now claims a pipeline of more than 2,000 lots across 13 projects throughout Victoria, and the Rockbank move positions the company in one of Melbourne's designated growth corridors in the city's outer west.
Construction on the new community is expected to commence in 2028.
The acquisition price for the Rockbank site has not been disclosed but the property sits within a Victorian Planning Authority precinct structure plan area earmarked for significant residential development, with infrastructure planning under way to support future housing supply across Melbourne's western growth front.
TW Projects Director Albert Weddell said the acquisition represented a natural evolution for the business.
“Over the past several years we’ve focused on delivering communities where people genuinely want to live, creating neighbourhoods that provide value not just on day one but for decades to come,” says TW Projects director Albert Weddell.
“We’ve now delivered multiple projects throughout regional Victoria, with several more in the pipeline, and believe the experience we’ve gained in those markets positions us well to enter Melbourne’s growth corridors.”
Fellow director Jack Townley says the partnership with Monark has been instrumental in scaling the business beyond its regional roots.
“While this is our first metropolitan acquisition, the philosophy remains unchanged," he says.
"We take a long-term view, focus heavily on planning and place-making, and work closely with our partners and stakeholders to create communities that respond to the needs of local families.
“Rockbank continues to emerge as one of Melbourne’s most important growth fronts. It benefits from valuable existing amenity, strong transport connections and a level of housing demand that we expect will underpin the project’s success over the long term.”
The deal deepens TW Projects' relationship with Monark Property Partners, a Melbourne-based development and investment group backed by the Bori Liberman family office.
The partnership has already borne fruit in regional Victoria, with TW Projects and Monark recently acquiring a 16-hectare site at 321 Copelands Road in Warragul for a reported $19.5 million.
That site has been endorsed for 178 low-density residential plots and two super-plots allowing for more than 200 dwellings.
Monark has been active across Melbourne's growth areas, securing planning approval alongside Resolution Group for an $80 million masterplanned community in Cranbourne West earlier this year.
Adam Slade-Jacobson, chief investment officer and co-founder of Monark Property Partners, says the Rockbank acquisition reflects the strength of the partnership with TW Projects.
“The site is exceptionally well positioned within one of Melbourne’s strongest growth corridors and we see a significant opportunity to create a residential community that responds to the needs of today’s buyers while contributing positively to the broader Rockbank precinct,” says Adam Slade-Jacobson, the CIO and co-founder of Monark.
TW Projects' trajectory from a five-lot subdivision in rural Victoria to a 2,000-plus lot pipeline spanning regional and metropolitan markets has been built over seven years of steady expansion.
The company's portfolio spans projects across the state, with the Rockbank and Warragul acquisitions signalling an accelerating push into larger-scale developments backed by institutional-grade capital partners.
The 257-lot Rockbank community is expected to commence construction in 2028, subject to planning approvals.
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