Surf coast locals Albert Weddell and Jack Townley have snapped up their first site in metropolitan Melbourne
What Monark has backed TW Projects’ first acquisition in Melbourne
Why After delivering projects in regional Victoria, TW Projects is expanding into metropolitan Melbourne
What next The development has an end value of $100m
The Liberman family’s nonbank lending business, Monark Property Partners, has backed private developer TW Project’s foray into metropolitan Melbourne, Green Street News can reveal.
TW Projects, founded by surf coast duo Albert Weddell and Jack Townley, has acquired 11.1ha at 2331 Western Highway in Rockbank, about 35km west of the CBD, for $20.6m.
The acquisition marks a significant milestone for the Geelong-based developer, which has delivered projects across regional Victoria.
Weddell told Green Street News the expansion into Melbourne is a natural evolution of the business.
“Over the past several years, we’ve focused on delivering communities where people genuinely want to live, creating neighbourhoods that provide value not just on day one but for decades to come,” he said.
“We’ve now delivered multiple projects throughout regional Victoria, with several more in the pipeline, and believe the experience we’ve gained in those markets positions us well to enter Melbourne’s growth corridors.”
Townley said Melbourne’s western growth corridor offers a compelling opportunity for the next chapter of the business.
“While this is our first metropolitan acquisition, the philosophy remains unchanged. We take a long-term view, focus heavily on planning and place-making, and work closely with our partners and stakeholders to create communities that respond to the needs of local families,” he said.
Rockbank is one of Australia’s fastest-growing residential regions. The local City of Melton council forecasts the population will grow to 24,536 by 2046, up from 8,963 in 2026.
The Western Highway landholding is within the urban growth zone and is surrounded by established and emerging residential communities. TW Projects will partner with Monark to deliver a 257-lot residential community with an estimated end value of $100m.
Nonbank lenders are decisive
Monark is a development financier owned by one of Australia’s largest family offices, the Bori Liberman family office, Jagen Pty Ltd, and led by co-founders Michael Kark and Adam Slade-Jacobson. Monark has deployed over $1.5bn across more than 200 transactions.
The Rockbank project builds on the existing relationship between the financier and the developer.
“Our relationship with Monark originates from our partnership on Loom in Warragul, which has been a great success to date. That experience gave us a lot of confidence in how Adam, Michael and the team operate. They’re decisive, they back good projects and they engage as genuine, supportive partners throughout the process,” Weddell said.
The Liberman family are prominent property investors in Melbourne. Green Street News reported last month the Jagen family office’s Justin Liberman is involved with newly formed Shor Property + Development along with business partners Adam Rogers, Paul Solomon and Steve Fein to buy an office building at 11 Queens Road in the St Kilda Road precinct, with plans for a residential conversion.
Earlier this year, the family’s Impact Investment Group sold an office building in Collingwood to ASA Real Estate for $108m.
Monark CIO and co-founder Adam Slade-Jacobson told Green Street News that the partnership brought together two businesses with a shared commitment to thoughtful development and strong project delivery.
He added that the acquisition follows several months of negotiations and secures a strategically located site capable of delivering housing at a price point expected to appeal to a broad cross section of the market.
“We’re excited to be partnering with TW Projects on this landmark acquisition and helping bring their community-focused development model into metropolitan Melbourne,” Slade-Jacobson said.
“The site is exceptionally well positioned within one of Melbourne’s strongest growth corridors and we see a significant opportunity to create a residential community that responds to the needs of today’s buyers while contributing positively to the broader Rockbank precinct.”
The acquisition will increase TW Projects’ pipeline to over 2,000 lots across 13 projects with a combined end value of $650m.
Weddell told Green Street News that the company is targeting key population growth centres in corridors commutable to Melbourne and Geelong, and metropolitan growth areas.
“The underlying criteria is supplying an attainable product where demand is structural and supply hasn’t kept pace. That’s where we see the best long-term outcomes for buyers and for the business,” Weddell said.
The partnership will now progress planning, design and approvals, with construction expected to commence in 2028.
The transaction was handled by SRE Real Estate’s Peter Sammut on behalf of a local private family estate.
Media Coverage
This story was originally written by Nelson Yap and published by Green Street News: Australia – see the article here