AVJennings acquires right to develop land in New South Wales

AVJennings (AVJ) has acquired the right to develop a land parcel at Warnervale on the New South Wales Central Coast which it expects will produce around 540 lots.

The transaction follows recent announcements of the Wollert JV in Victoria with AustralianSuper (around 2,000 lots) and the Waterline acquisition in Williamstown, Victoria (up to 850 apartments and town homes).

AVJ managing director Peter Summers said: "This latest transaction is part of the company's strategy to build its land bank in key markets. The new development will help secure a strong pipeline of projects which will enable AVJ to continue to deliver quality residential communities to customers over coming years."