Thursday 18 October 2018
By Ginninderry Project Team

Three terrace packs and one multi-unit site went under the hammer today with all four parcels of land being snapped up by local builders. Located in Stage 1, the land is adjacent to the existing Strathnairn Arts precinct and the future community recreation park, with easy access to the natural attractions that set Ginninderry apart.

Ross Hincksman, Ginninderry’s Sales Consultant was delighted with today’s auction, saying,

“It was a great turnout from the local building community and after some spirited bidding, all three terrace packs and the multi-unit site were sold.”

  

With Rob Evans as auctioneer there were 13 registered bidders and a starting price of $725,000 for the smallest block, which could accommodate four terrace dwellings.

Pack 1, consisting of 10 blocks, two of which are to feature affordable homes, was hotly contested with the winning bidder, A & J Bathrooms, settling on a purchase price of $1,950,000. They then went on to secure the multi-unit site for $804,000.

The remaining two terrace packs were sold for $725,000 (Pack 2) and $1,450,000 (Pack 3).

Co-agent for the auction, Andrew Smith, Director Civium Property went on to say,

“This really shows there is a lot of confidence in the medium density housing market and the Ginninderry development.”

The team from Ginninderry now look forward to working with the successful builders on their designs and bringing the homes to market in 2019.