SINGAPORE - AVJennings Limited have acquired development rights of a land parcel in Australia's New South Wales which is expected to produce around 540 lots.

The company said in a release on Monday that the plot of land at Warnervale in NSW.

The acquisition follows recent announcements of the Wollert JV in Victoria with AustralianSuper (around 2,000 lots) and the Waterline acquisition in Williamstown, Victoria (up to 850 apartments and town homes).

"The new development will help secure a strong pipeline of projects which will enable AVJ to continue to deliver quality residential communities to customers over coming years," AVJ Managing Director Mr Peter Summers said.