A 102-section sell-out at Hanley’s Farm proves there’s still massive demand for Queenstown residential land.
Sales at the subdivision – between Frankton and Jack’s Point – have now jumped from 257 to 359, though there’s zoning for 1400-odd more.
In the latest release, the first in 16 months, pre-registered buyers snapped up 42 Stage 5A and 5B sections on August 22.
Off the back of overwhelming demand, Australian-based developer RCL Group released 60 more sections in Stage 5C, five days later, which were also snapped up instantly.
Prices, which were only unveiled on release days, ranged from $273,000 to $360,000 for sections ranging from 400 to 861 square metres.
The sales process was again handled by local Bayley’s agents Jimmy Allen and Greg Ross.
Melbourne-based RCL Group boss and director David Wightman says: “Our vision has always been to create an accessible and high-quality living solution for the local market.
“The ongoing response for Hanley’s Farm is indicative of the demand for this type of development, and we are proud to be setting a high benchmark for buyers.”
To stop speculators, a covenant on the title prevents buyers on-selling their section without the approval of the developer, who would then on-sell it on the buyer’s behalf.
The first 80-odd titles only came through in June, almost two years after the first 100 sections were snapped up.
A large number of those buyers are now building.
A recreation park, including a popular bike pump track and a water tower-climbing structure, was recently completed as part of Stage 1.
Civil construction of roads, drainage and sewerage has started for Stages 2, 3 and 4, while Stage 5 earthworks are already underway.
Another release is due to be programmed shortly, while a showhome village, comprising 10 showhomes built by six builders, is due to be completed within nine months.
franchisee Nick Tapper, whose company is building about seven homes, believes Hanley Farm’s been well thought out.
“They’ve put a lot of effort into the landscaping and the park. You can see the shape of a wonderful community starting.”
He says a design review board, which takes into account, for example, the aspect of each house in a street, “can sometimes add complications, but overall there’s a benefit to the home owner”.