This article is from the Australian Property Journal archive
The $150 million Keppel Bay Estate on Queensland’s Capricorn Coast has amassed more than $4.4 million in sales since its release to the market.
Keppel Bay Estate, being developed by Young Land Corporation headed by David Young, has only 12 blocks, ranging from 650 to 800 square metres, remaining for sale.
The estate has sold 34 of the 46 available home sites in the development’s first stage, at an average price of $130,000.
Set to become the focal point of the Capricorn Coast, Keppel Bay Estate has been met by a wave of support with buyers snapping up almost 80% per cent of the first stage home sites in the region’s largest approved master-planned community.
The estate is the first of a number of major development projects planned for the Capricorn Coast area, which has become the subject of major development interest as investors look for opportunities along the Queensland Coast.
Young said the recent sales figures confirmed the demand from both local and interstate buyers.
“Keppel Bay is an area on the move and it is estimated that the population will pass 40,000 by the end of this decade. This reflects investor confidence, as buyers seek to own a piece of paradise overlooking Great Keppel Island,” he added.
Young said the release of stage two, consisting of 26 lots, is imminent following the overwhelming response to the release of stage one.
Construction on the first homes is expected to take place in March followed closely by 20 more homes.
Keppel Bay Estate is being developed on a 76-hectare parcel only one kilometre from Lammermoor Beach, overlooking Great Keppel Island.
By Kathryn O’Meara
