Solander, Park Ridge - CFMG Capital’s exciting new residential community launched to the market in early 2017 has officially sold out of Stage 1.
Stage 1 at Solander included 55 premium flat allotments, at an average price of $204,000 and with an average size of 432m2. Andrew Thomson, General Manager – CFMG Capital said it was pleasing to see the strong demand in the opening stage of the development, with volume builders, first home buyers and upgraders from surrounding suburbs making up a majority of deposits and contracts thus far.
“We launched the project officially in January this year, and despite plenty of initial interest – it was a bit of a slow start to begin with. However, when we secured Development Approval, settled the site and ramped up the on-site presence with the sales office and some signage, interested parties really started jumping on board and the initial interest started converting to deposits and contracts, including 18 executed contracts in April alone”.
With construction commenced and a strong on-site presence – the project is ahead of schedule and the release of Stage 2 has generated additional strong interest from buyers.
Mr Thomson said “Tree clearing was completed in April/May which really opened up the site and had the local buyers particularly interested as the project became reality, with sales demand in the recently released Stage 2 showing exceptionally positive signs”.
Stage 2 of the community will feature 52 lots, with an average price of $208,00 and an average size of 411m2. This represents 7% price growth on Stage 1 on a $/m2 basis and with 10 deposits taken in the opening weeks since release, demand has remained strong despite the price growth from Stage 1 to Stage 2.
CFMG Capital are bringing a number of new residential communities to market in the coming months, so contact us on 1800 862 058 if you would like further information on investing via the CFMG Land & Opportunity Fund.