Lots fly off the shelf at Riverina

Developer brings forward the release of Stage Two after a surge in demand and sales

STAGE Two of the Riverina Gold Coast Estate has been brought forward in response to growing demand and the sellout of Stage One.

All 26 of the 280sq m to 500sq m lots in Brisbane-based Pointcorp’s masterplanned community, which were released in April priced from $360,000, were snapped up by buyers seeking rare house blocks in a prime central Gold Coast area.

The 17ha of riverfront land at Carrara was once The Villa Private Golf Course, the retreat of multi-billionaire Toshiaki Ogasawara, which was acquired in a hushed deal three years ago by Pointcorp.

Demolition works are under way (pictured) at the site to demolish and remove the old villa, which was frequented by a string of sporting stars and celebrities during its hey-day.

The Stage Two release of the development offers a further 66 lots, ranging from 300sq m to 630sq m, with prices starting from $460,000. Lots released in future stages will be up to 740sq m, with riverfront blocks carrying a price tag of more than $1 million. The project’s average lot price is $600,000.

Some of the key attractions of the masterplanned estate include a range of luxury lifestyle facilities, such as a private residents’ club with a cinema, a café, library and gym, plus a 25m swimming pool and children’s playground.

Being a prime riverfront property, with 430m of river frontage, the developer is also building a 26-berth marina, and a 2.8ha central feature lake for residents’ exclusive use.

Open green landscaped spaces will be a priority and include tennis courts, picnic and barbecue areas connected by a walking track with exercise stations and elevated footbridge crossings.

Construction on Stage One began in May with property settlements expected to occur from September.

Louka Vitale of ProjX Group, who is managing sales of the development, said the current market conditions had generated a high level of interest, which led to Stage One selling out in record time and the decision to bring Stage Two to market early.

“Riverina is the closest masterplanned estate to Broadbeach and Surfers Paradise, is rich in amenity and has all the necessary infrastructure near by to support a growing community,” Mr Vitale said.

“The selling out of Stage One so soon after launching not only shows the level of demand, but also how well Riverina has been received by buyers.”

Construction of the estate’s first homes will begin in September, involving Metricon and Brighton Homes, and will include the building of a display village over four adjoining lots.

Until then, interested buyers can visit the land sales display suite at the development site at 74 Riverview Road, Carrara.