Title registration for Stage 1 in CFMG Capital’s ‘Solander’ residential community in Park Ridge has been recently achieved, triggering $11.3 million worth of settlements across 55 residential alotments.
The Solander Estate, part of the CFMG Land & Opportunity fund, is perfectly positioned within the broader Park Ridge Planning scheme, part of a 25 year redevelopment plan to create a vibrant and well connected urban community.
With Stage 2 construction commenced, and already in excess of 30 sales with settlement value already exceeding $6million – Solander has proven to be another quality project in the CFMG Capital land development pipeline.
Andrew Thomson, General Manager at CFMG Capital said “We launched Solander in 2017, and luckily for us through good strategic planning, we were well ahead of the growing market in the area when it came to approvals and operational works and certainly got the jump on the competition to build some really solid momentum as a result”.
“Selling ‘off plan’ early in a greenfield project like this before the sales office is established, and construction has commenced is often challenging. However, via our strong selling networks, particularly our direct builder relationships – were really able to hit the ground running and the results have remained very consistent since launch, this is supported by the fact we had in excess of 25 sales in Stage 2 before we even turned dirt”
The first residents of Solander are expected to start moving into their new homes in September, which will really bring this new community to life as Stage 2 will be settling or settled by that date and Stage 3 sales commenced.
In addition to delivering a quality new residential community, the Solander Estate has also proven to be a quality project via the CFMG Land & Opportunity Fund, delivering a fixed 12% return per annum on their investment, net of all fees.