Busy weekend in Sydney land sales as a few buyers camp out and buy up
It was a busy weekend last Saturday in Sydney for land estates, with Sekisui House's latest land release snapped up, and eager buyers camping out for the release of Landcom's Cadden's Estate.
Sekisui House’s latest release of land at The Hermitage at Gledswood Hills secured the sale of 90% of the available lots selling over the launch weekend.
Located in Sydney’s Macarthur/South West region, the Gabriel’s Run release included 54 lots.
Lots range in size from 375 square metres to 590 square metres and range in price from $225,000 to $300,000.
Some 50% of the sales were to partner builders and 50% were to homebuyers.
“We noticed a greater sense of urgency among buyers of this release, all looking for quality location and proximity to amenity,” says Sekisui House Project Director for NSW and QLD Craig D’Costa.
“We sold this release via appointment and this has appealed to buyers who like the exclusivity and attention they get through the process,” says D’Costa.
On completion, Gabriel’s Run will include more than 200 lots.
The snappy sales have meant the next land release is expected to be released in the next six to eight weeks, a year ahead of schedule.
The Hermitage is set on a 312-hectare site and will feature a central three-kilometre green corridor and more than 10 kilometres of bicycle and pedestrian walkways.
The estate will also feature a hilltop village with boutique convenience shopping, cafes and community facilities.
“The Hermitage is a compelling option for buyers because it comes with a clear vision for the future and with over 60 homes now complete and almost 150 residents moved in, people can see this rapidly coming to life on a daily basis,” says D’Costa.
Gabriel’s Run was named after a local identity, Gabriel Louis Marie Huon de Kerillian, who owned the 200-year-old colonial convict-built Gledswood Homestead.
“Honouring the past and making it relevant for the present is very much the Sekisui House way, so each stage, park, path or public space will in some way acknowledge the historical or geographical significance of its location,” says D’Costa.
The Hermitage is the Japanese company’s first Australian master-planned community.
In Penrith’s Claremont Meadows, eager buyers reportedly camped out from Friday August 16 in hopes of securing a block in the Caddens estate.
The sales ran as a ‘first come, first served basis’, with four of the 35 lots selling by noon on Saturday.
Land in the Caddens Estate is priced from $260,000 and lots range in size from 350 square metres to 563 square metres.
On completion, Caddens will include 1,250 dwellings.
The median house price in Penrith is $365,000, a 12.3% change in the past five years, according to RP Data.
