Multi unit sites sell for $10 million
The Director of Project Delivery for Denman Prospect, Nick McDonald Crowley, said the sites were sold through an Expression of Interest by the Independent Property Group and Colliers International.
“These sites are the first higher density sites to be sold in the suburb and represent an average of $66,223 per site”, Mr McDonald Crowley said.
“There was very strong interest in the sites from local builders, and RAM Constructions and M3 Property were ultimately successful. Both builders have a strong history of constructing quality multi-unit housing and that is why we used the Expression of Interest process to select the partnered builders”.
“The infrastructure at Denman Prospect, including the completion of most roads and services, the development of ponds, lakes and parks, and recently opened schools in the adjoining suburb of Coombs, has proved a major drawcard for builders and individual purchasers of the 377 sites”.
“Already, over 270 standard residential blocks have been sold and the first residents are due to move in before the end of the year”.
“The location of Denman Prospect, including the Arboretum in the ‘front yard’ and the Stromlo Forrest Park in the ‘back yard”, plus magnificent views back to the city and beyond to the Brindabellas, is proving highly attractive”.
“We know that purchasers and occupants want convenience and amenity, and that is why we are currently in the process of gaining planning approval and building a first class local shopping centre for our suburb”, Mr McDonald Crowley said.