Work begins on Gold Coast’s newest residential community
Looking for a place to call home on the central Gold Coast? The region's newest residential community could be just what you're looking for, and you won't have to wait much longer to get your hands on it.
Villa World, a residential property developer that has already created more than 40,000 homes in Australia, has begun the process for building its newest site on Greenacre Drive. This plot of land measures 25hectares, and will offer a total of 395 lots for interested parties. Could this be your chance to purchase property in the Gold Coast?
At home in Arundel Springs
For those considering buying a spot in Arundel Springs, there will be a choice of one of 305 residential lots, or roughly 90 town houses. The smallest of the sites will measure 306square metres, and the largest will be almost triple that at 954square metres, offering a real variety in properties for new residents.
The entire community is located on a spot that overlooks the Coombabah Lakelands Conservation Area, which offers a number of bushwalks and relaxing outdoor spaces.
Location is key for this new development, as it's close to a number of practical and useful amenities. For example, The Griffith University and Gold Coast University Hospital are both just two train stops away, and the Helensvale Westfield is only one stop away. Plus, Southport is less than 10km away and the site is near to major roadways such as Olsen Avenue, the Pacific Motorway, and Smith Street Motorway.
This could be the perfect reason to sell your out-of-the-way property and look for something closer to all the action!
In a press release from Villa World earlier this year, CEO and managing director Craig Treasure explained the appeal of this convenient location.
"Arundel is a highly popular suburban area favoured by families for its location and amenities," he said.
As well as families, Mr Treasure said that the area would also be hugely attractive to new home buyers and active retirees. The first of the lots are expected to go on sale in the new financial year with home building getting underway in mid-2017.
Perfect timing for the Gold Coast property market
Arundel Springs could not have come at a better time, as demand for new residential properties close to major facilities and amenities is high.
Villa World's Michael Vinodolac said that Arundel Springs will coincide with the need for more Gold Coast real estate.
"There is pent-up demand for residential land in the central Gold Coast area due to a shortfall in supply, so this is a prime time to bring Arundel Springs to the market," he explained.
Plus, as one of the last developments of its kind in the city, Mr Vinodolac expects the project to be popular for buyers and investors. Once these final prime spots have been turned into residential property sites, it will be incredibly rare for similar projects to become available and offer buyers such well-located real estate options.
It's taken roughly 20 years for Villa World to purchase, plan and begin developing the site, which used to be farmland owned by the O'Brien family. Now, the company is set to spend roughly $1.2million to reinvigorate the area with remodelling and revegetatio. They will also make the most of the existing walking trails and walkways by revamping them to keep the site extremely green and attractive.
Overall, the site will help the local economy to the tune of $100m for every year of construction, and will create an estimated 1,5000 jobs in the process.
If you're looking to find out more about the features and properties on offer at new developments on the Gold Coast such as Arundel Springs, talk to the experts at Ray White.