Over 60 per cent of terraces and blocks of land were sold under agreement in one night to local owner-occupier buyers as Stockland launches its $135 million Red Hill community in one of Canberra’s most sought-after neighbourhoods just six kilometres south of the Canberra CBD.
The Parks – Red Hill pre-launch sets a new standard for Canberra and marks a successful re-entry for Stockland into the ACT.
Ben Cantwell, Stockland General Manager, Built Form Communities, said the strong sales result reflected a shift in buyer sentiment and the strength Canberra’s economy and growth in the market.
“Canberra's property market continues to perform well with recent strong, steady price growth, and the overwhelmingly positive result of our prelaunch shows savvy buyers are drawn to the unique combination of an ideal location and a thoughtful masterplan vision.
“Red Hill offers all the fundamentals that people are looking for in cosmopolitan living,” said Mr Cantwell. “The new, low-density neighbourhood village builds on Canberra’s established heritage, capitalising on the views and open spaces while providing high-quality architecturally diverse housing choice within walking distance of local shops and services.
“One in every six new home buyers across the nation lives in a Stockland community – a responsibility and privilege we take very seriously. It’s also a reflection of the trust in our brand and quality in our product with almost 70 years of history building the homes, places and spaces where people create community.
“We’re pleased to be in a unique collaboration with the Doma Group on this city-defining development, which represents our return to the ACT for the first time in over a decade and excited to have the opportunity to build on this legacy to create a new residential community in Australia’s capital.”
Stockland was selected as master developer for this renewal project together with respected local property company Doma Group and will deliver 25 land lots and 83 high quality premium terraces, with Doma planning to build 136 apartments across six buildings.
Following the success of the prelaunch, The Parks - Red Hill will be celebrating a raft of milestones in coming months, including the appointment of a top tier builder, the opening of the display centre and second release of terraces.
More information on the Red Hill precinct masterplan can be found at: www.theparksredhill.com.au
About The Parks - Red Hill