This article is from the Australian Property Journal archive
Villa World has settled on the purchase of two sites at the Varsity Lakes master-planned community on the Gold Coast from Delfin Varsity Lakes.
The two sites located in Carina Peak Drive and Bayswater Avenue comprises 8028 sqm in area.
Villa World‘s chief executive Brent Hailey said the sites will be developed into upmarket townhouses and duplexes in keeping with the Varsity Lakes master plan.
The Carina Peak Drive site will comprise 12 duplex units and one detached dwelling, while the Bayswater Avenue site will comprise six split level townhouses and eight duplexes.
“Both sites are fully serviced and dwelling construction is able to commence immediately upon building approval.
“These two purchases give us the opportunity to showcase our new townhouse and duplex designs, which will be used in two upcoming projects in Brisbane and the Gold Coast that are currently awaiting Council approval,” he added.
Homes in the two projects are expected to average $350,000 for a townhouse and $385,000 for a duplex unit and have a total end sale value of around $10 million.
By Kathryn O’Meara
