This article is from the Australian Property Journal archive
PROPERTY developer Peet is launching a new residential precinct located between the heart of Adelaide and the coast.
Development is underway on the the precinct, named Woodville Rd, located eight kilometres from the CBD, situated midway between Adelaide and the Port, which will deliver 170 new homes to the area.
It will feature architecturally designed housing options that are directly connected to open spaces, within close proximity to the Woodville Road retail precinct and near public transport.
The new homes sales centre is now open and the first residents are expected to move in from 2025.
“Thinking differently about how we plan and design communities is going to be critical to overcoming the current housing supply challenges facing cities,” said Brendan Gore, Peet managing director and CEO.
“At Woodville Rd, we will deliver high-quality housing at greater density, but with plenty of open space and good transport options on their doorstep,”
Woodville Rd includes 13 terrace designs that Peet says are inspired by the surrounding area, local buildings, and stone wall features. The community will feature both apartments and terrace homes with new homes available at a range of price points targeted at first time buyers, young families, and downsizers.
The Torrens Titled terraces are available as either two-storey or three-storey homes, with the option of two or three bedrooms, and there will also be a series of four-bedroom homes with double garages.
Eligible residents will be able to take advantage of both the HomeSeeker and Shared Equity initiatives. Through HomeStart, eligible homebuyers receive a secondary loan under Shared Equity, providing an interest-free and repayment-free loan of up to 25% of the purchase price. Additionally, first homebuyers stand to benefit from the state government’s increased First Homeowner Grant property value cap of $650,000 for eligible contracts.
Despite subdued market conditions across FY23, ASX-listed Peet managed to deliver record earnings for the year, after focusing on monetising its high volume of contracts on hand at the start of the period.
