Since departing residential property development company ID_Land, Brendan Mullan and David Dordevic have been keeping busy - the experienced developers have turned their attention towards founding an original venture through which they can invest in the property opportunities most appealing to them.
DM Property is this venture, and it promises to be a worthwhile affair, with the pair having already secured a pipeline in excess of $160 million. This includes a townhouse, apartment and land subdivision projects in Sandringham, Geelong and Officer, which range in price from $330,000 to $1.5 million.
Collectively, the duo have over 20 years of experience, having spent close to eight of those at ID_Land with General Manager and Project Director roles respectively, and managed $3 billion in development projects across the eastern seaboard.
(left-to-right) David Dordevic and Brendan Mullan - DM Property
Focusing on central, middle ring, growth areas and regional locations, DM Property have a particular focus on creating affordable housing options within these markets. The product mix will be an even split between land subdivision projects and built form outcomes.
“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 Brendan.
17 kilometres south of Melbourne’s CBD, DM Property’s Sandringham project will consist of 35 affordable, luxurious townhouses designed by architect Rothelowman in conjunction with Adele Bates. The 5,300 sqm development is set to launch to market later this year, with prices ranging from $1 million to $1.5 million; comparatively lower than the area's median housing price of $2.5 million. Construction will commence in early 2023, with completion slated for Q4 2024.
“Sandringham will be the initial focal point as there is pent up demand for quality townhouses in this blue-chip bayside suburb due to its ease of access to the Melbourne CBD, unbeatable village, excellent schools and incredible beaches.”
