Demand strong at Arundel
Villa World is fast-tracking the construction of its Gold Coast community to meet demand
DEVELOPMENT of Villa World’s $300 million Arundel Springs project has been fast tracked to meet strong demand.
While the developer initially planned to start stage four of the central Gold Coast masterplanned community now, it was already completed and sold out. It has now released lots in stage five. And if the pace continues Arundel Springs development manager Kevin Morse expects that the final sixth stage will be completed by January or February next year instead of the end of 2019 as first anticipated.
Mr Morse said they were taken a bit by surprised about the need to bring later stages on quicker.
He believed the demand was a result of a combination of things including a lack of stock and all the facilities on offer including the work Villa World had done on creating usable open space areas.
He said they appeared to have something different to what other developers were offering and that was a real “mixed bag’’of blocks.
“We’ve got small blocks through to larger blocks.
There is a fair bit of variety there, I think, which people like and a (variety) of price points and that is encouraging some of the sales as well.’’
Mr Morse said most buyers appeared to be able to find something within their budget.
Stage five of the project is now at about the 40 per cent mark of construction and the contract has already been awarded for work to start on stage six.
“I am hopeful that stage five is complete and sold and settled by end of this year and stage six will have started probably around September and be finished probably in January, February.’’
Mr Morse said now that potential buyers could see completed houses in the area and people moving in they could see the quality of the project.
He said there was a growing waitlist on the new stages because of the larger, more conventional size of the lots.
The project included the regeneration of the Coombabah Lakelands conservation area and there are walkways, bike tracks and viewing decks.
The new prestige park-side land starts at $325,000 and buyers can choose their lots, select their builder and their home design.
Land lots range from 314 sqm to 639 sqm and include NBN and natural gas access.