Cranbourne West Reaches Settlement

Pomeroy Pacific would like to congratulate our client and partner, McLaren Developments after reaching settlement for their site located in Cranbourne West last week.

The 1.3 hectare site was successfully negotiated and secured off-market by the Pomeroy Pacific Acquisitions Department and is about to become one of Cranbourne West’s key commercial hubs with 31 commercial and retail tenancies plus a United petrol station.

The Pomeroy Acquisitions team have secured a large number of pre-lease commitments prior to Settlement significantly de-risking the project.  As a result, construction is due to commence within the next 3 months resulting in substantial returns both in terms of profit and IRR.