Mirvac all but sell-out Waverley Park masterplanned community after nearly two decades

It's been nearly two decades since the ASX-listed national developer Mirvac launched its Waverley Park masterplanned community in Melbourne's Mulgrave.

19 years later and there's just one townhouse remaining in the $785 million project in Melbourne’s South East.

Just five lake and park front homes were put up for sale in the established 80-hectare community, which has created 1,274 homes over the last 19 years.

Four of the five townhomes were snapped up in a matter of days of the release, including one with a five bedroom floorplan option.

The sole townhouse, the last that Mirvac will sell, is a three bedroom townhouse priced from $975,000.

Overlooking the 6.8 hectare Finale Park and playground, the home is pitched at upgraders, young professionals and families.

Mirvac Head of Residential, Stuart Penklis said the final release is an historic milestone for the vibrant community and demonstrates Mirvac’s commitment to creating a strong legacy for future generations.

“For nearly two decades Mirvac has been dedicated to reimagining urban life at the former VFL Park. Over the years we have welcomed new residents and delivered an abundance of amenity including the refurbished Stadium as a state-of-the-art headquarters for the Hawthorn Football Club, and a local shopping hub at the base of the original Sir Kenneth Luke Stand including the renowned Goodlife Health Club and popular café, The Last Piece,” he said.

“It has been an incredible journey and we are extremely proud to be releasing the final homes within Waverley Park, continuing our vision to create a benchmark living environment and sustainable community that encourages social connectivity and an active lifestyle.”

Penklis says many of the sales of stage 14 and 15 at Waverley Park, which were secured during the COVID pandemic, were repeat purchasers within the masterplanned community.

"[Many purchasers were] keen to secure one of the few prime park and lake front homes, demonstrating ongoing market appetite for housing by quality developers in sought-after suburban locations.”