FORMER ID_Land senior executives Brendan Mullan and David Dordevic have linked up to form a new property development venture called DM Property.
The duo has already secured a major pipeline in excess of $160 million.
They've got over 20 years of experience and have managed $3 billion worth of development projects across the eastern seaboard. With their experience and knowledge combined with their desire to succeed, they're confident they can take DM Property to the top.
"David and I are excited to use our wealth of experience within the industry to create projects that are unique to DM Property, while working with the best in class consultants, contractors and joint venture partners to bring these projects to life," said Mullan.
The gutsy decision to leave and go their own way was inspired by their hunger to become one of Victoria's most well respected and diversified private residential developers. They're aiming to focus on central, middle ring, growth areas and regional locations. They also have a particular focus on creating affordable housing options within these markets.
The pipeline they've secured includes a townhouse, apartment and land subdivision project. The projects are based in Sandringham, Geelong and Officer and range in price from $330,000 up to $1.5 million.
The Sandringham project will feature affordable, luxurious townhouses designed by architect Rothelowman together with Adele Bates. The 5,300 sqm development is set to launch to market later this year. Prices are expected to range from $1m to $1.5m - significantly lower than the area's median housing price of $2.5m.
DM Property also have a Geelong CBD project slated for construction in 2024. It will hold 120 one and two bedroom apartments starting from $400,000. This project will also be designed by Rothelowman.
One of DM Property's initial firm goals is to double their portfolio within the first 12 months as they continue to search for more sites to add.
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