11-Jan-2008
Fernbrooke's Staggering Sales Success
Accessibility and affordability have been the motivators for purchasers who have snapped up more than $24.5 million worth of land at Fernbrooke in just 12 months.
Since Fernbrooke was launched in January 2007, a mix of first and second home buyers, and builders have purchased blocks ranging in price from $130,000 to $189,500 and ranging in size from 320sqm to over 800sqm.
Fernbrooke is a $376 million masterplanned community located at Redbank Plains, one of the fastest growing residential regions in Queensland.
Urban Pacific Project Director Geoffrey Flook said the demand for Fernbrooke has been staggering.
“We recognised the offering at Fernbrooke was unique in terms of accessibility and affordability but the interest from purchasers has exceeded our expectations,” Mr Flook said.
“The rapidly diminishing supply of affordable land and well designed and well located homes have driven strong demand.
“Our purchasers have covered the spectrum from first home buyers, to young families and empty nesters. Selling 151 lots in just 12 months demonstrates not only the affordability of Fernbrooke but the benefits of its location
“The ‘affordability’ crisis is well documented and traditionally people trying to enter the property market have had to look outside major centres with established infrastructure and services,” Mr Flook said.
“With such strong demand we anticipate our next land release, Melaleuca, consisting of 60 lots and due to come on line in March 08, will continue to motivate purchasers.
Additionally our on-site display village will allow buyers to visualise quality house and land packages starting from around $320,000,” he said.
17 of Queensland’s award winning builders showcase 25 diverse home designs in the Fernbrooke display village, meeting the specifications of the varying sites available and varying budgets.
The 1,000 homesite community, offering land ranging in size from 320sqm up to 900sqm features one of the largest display villages in the western corridor.
Fernbrooke, which is 32 kilometers west of the Brisbane CBD and nine kilometers south-east of the Ipswich CBD, will be developed over 20 stages with completion scheduled in 2011.
The Fernbrooke community includes a 20 hectare linear park alongside Six Mile Creek; the rejuvenation of Six Mile Creek; extensive parklands and recreational areas; a medium density site and a proposed local retail precinct.
Urban Pacific is a wholly-owned subsidiary of Macquarie Group. Urban Pacific currently has sixteen major residential projects (10,700 lots) under sale or in development/management in five Australian states worth a total end value of $5.3 billion.