Fitzroys Expands With Dedicated Presence In Development Site Market

Posted on 26th July 2023

As it celebrates its 50th anniversary, leading agency Fitzroys has continued its expansion, this time into the development site market with the appointment of specialist Andrew Lepa as an Associate.

Lepa joins Fitzroys after four years at Oliver Hume, where he established himself as an expert in broadacre and medium-density sales and acquisitions across Victoria, acting for a multitude of clients including private investors, developers and large property funds, and selling in the vicinity of $400 million worth of land.

“As Fitzroys celebrates its 50th anniversary it’s appropriate we take further steps to becoming an even more dynamic business,” said Fitzroys Director, Chris Kombi.

“This marks another timely step in Fitzroys’ expansion, and another example of the agency making a considered appointment of specialists in specific markets,” he said.

“We’ve been looking to establish a dedicated presence in this part of the market for some time and have been waiting to find the right people. Andrew has a proven record and developed a strong reputation throughout the industry, and we look forward to working with him and to the strong results he will deliver across Melbourne and Victoria for our clients.”

Kombi added, “This appointment is a great opportunity to leverage our existing client base and provide additional opportunities for our clients.

“Fitzroys is making this expansion at a time of an unprecedented housing supply and demand imbalance. Melbourne’s existing metropolitan development sites and land in its growth areas will be in high demand and require the facilitation of sales to expedite much-needed housing supply.”

Australia is forecast to have received a record intake of migrants of 400,000 in the 2023 financial year and 315,000 in FY24, for a total of 715,000 people, with many of these to settle in Melbourne and Victoria.

In the longer-term, Victoria’s population is forecast to grow more than 25% from 6.747 million in 2023 to over 8.454 million in 2041.

Lepa said, “I’m excited to be part of Fitzroys’ expansion and get to work in establishing the agency’s dedicated presence in the broadacre and infill development site market at a significant moment in time for the sector, and delivering strong results for its new and existing clients”.