The Waterford Estate was originally owned by Land Source Australia (LSA) which consisted of three partners. LSA is now in administration and the estate will soon be placed up for sale by Korda Mentha; for the latest news from the Developer please go to Latest News.
The Developer is responsible for the creation of the estate, including:
- Installing the roads, footpaths and lighting
- Arranging the installation of the utilities (gas, water, sewage, etc.)
- Land stage releases
- The development of the town centre – shops, tavern and leisure centre
- Sale of land to the State and Catholic Education Departments for the schools.
- Sale of land to Melton Council for the ovals
The Developer gets its income from the land sales, not from the annual fee paid to the Owners Corporation or subsequent house sales.