Nostra Homes delivers first ex-Porter Davis townhomes ahead of schedule
28th September 2023In a huge win for families across Melbourne, Nostra Property Group has completed its first cohort of ex-Porter Davis townhomes, following the acquisition of the group’s medium density division earlier this year.
Nostra Property Group put its hand up to complete 126 townhouses that were left in limbo across multiple projects, with the first 19 townhomes handed over to purchasers located in the Orana Estate in Clyde North and the Kingsfield Estate in Sunbury.
The remaining homes are due to be completed within the next six months, with many ahead of their original build schedules.
Nostra's Managing Director and Founder Anthony Caruana said one of the biggest challenges when acquiring the Porter Davis medium density division was completing homes that were already half constructed.
“Building these townhomes was made possible by the assistance of the talented ex-staff members employed by Porter Davis, who ensured what is delivered on-site is what is on the plans.
“It’s been incredibly fulfilling to see families move into their finished homes - what was an uncertain and tumultuous time for them is now in the past and they can start the next chapter and move forward,” he said.
Nostra Property Group is also in the process of acquiring an additional 169 townhouses that have been pre-sold by Porter Davis, but are yet to start construction.
Nostra Property Group is an experienced and well-regarded medium-density builder who has worked alongside many developer partners across the past 15 years. Since 2006, Nostra Property Group has built over 3,100 homes and given this experience, Anthony said the acquisition of Porter Davis’ medium density division was a natural fit.
“The acquisition of the Porter Davis medium-density business was a natural addition to the Nostra business from a capability, competency and financial viewpoint. It also enabled the contracted purchases to realise the delivery of their townhouses.
“Homeowners can feel confident that we will deliver on our promises; our business direction is not driven by volume but rather each new project we take on is assessed on its commercial merits and its fit within the company’s brand and value,” he said.
The Victoria Managed Insurance Authority “VMIA” recently assessed Nostra and determined the Risk Category applicable to be Risk Category A - the lowest risk category applicable.