AVJennings enters into JV to develop land in Australia's Victoria

PROPERTY developer AVJennings' wholly owned subsidiary, AV Jennings Properties Wollert, has entered into a joint venture with AustralianSuper to develop a plot of land in Wollert, Victoria.

The joint venture has options for three parcels of land at Wollert, with a developable area of 1.4 million square metres, which can deliver over 2,000 lots.

The project is expected to start in May 2016.

The project will "form an integral part of our Victorian business for many years to come", said AVJennings.

AustralianSuper is Australia's biggest superannuation fund with over A$85 billion (S$89 billion) in member assets.