BLOG: Shell Cove land lots in demand

PROPERTY WATCH

It has been a busy 2013 for the Shell Cove project, a joint venture between Shellharbour City Council and developers Australand.

The first sod on the long-awaited boat harbour was turned in January, and the first $35 million stage of works is due to be completed in March. The tender process for stage two has also begun, which Shellharbour City Council says heralds a significant achievement for the Shell Cove project. 

It means the stage two works will commence immediately following the completion of stage one, previously there was a minimum time gap of six months.

‘‘This start is a clear indication of the positive results that are happening at Shell Cove,’’ according to Shell Cove commercial manager Kevin James.

When land lots first went on sale at Shell Cove in 1997 the average price for a land lot was $86,828. The average price for a block of land in Shell Cove in 2013 is $311,791.

According to Australian Property Monitors, Shell Cove’s median house price now sits at $529,000.

More than 1650 land lots have been sold.

“We have now sold over half of the land lots available at Shell Cove, with two land releases this year recording an outstanding 100 per cent sellout on the first day,” Australand NSW residential division general manager Nigel Edgar said.

“As construction progresses on The Waterfront, Shell Cove we expect demand for land lots will increase, with many buyers wanting to live close to the future boat harbour.” 

Go karts halted

The Kembla Grange Go Kart track is far sale or lease.

The Go Kart track in Kembla Grange which has been a popular facility for the Illawarra is no longer in operation, and Andrew Hedley of Bevans Wollongong is working with the owner Peter Hinde to find a new tenant or owner to commence operation once again. 

The track has been a key facility for the Illawarra for years.

The property is available to lease, but expressions of interest have also been called for the 35,000-square-metre site.

The property contains a bitumen-sealed racetrack and associated yard lighting, an older-style 305sqm workshop/restaurant/amenities building and a 65sqm prefabricated metal shed structure.

‘‘Ideally we are looking for a tenant or prospective purchaser that is interested in re-opening the track,’’ Mr Hedley said.

‘‘But the site could have other uses due to its light industrial zoning ... it has excellent exposure to the Princes Highway.’’

Display village

Work has started on the 28-home display village at Shell Cove, which will include a new sales and information centre.  

The new display village is expected to be open in the second half of next year.

There will be  a range of home designs from builders including Beechwood, Allworth, Masterton, Metricon, Raymond Vincent Homes, Sekisui and MacDonald Jones.

Accessible via Cove Boulevard, the new display village will be located within the Shores Precinct, close to The Waterfront, Shell Cove.  

Construction is also under way on parklands and wetlands which, once complete, will provide landscape areas for the whole community to enjoy.

Top prices continue

After a bumper spring season, the million-dollar sales continued on the first weekend of summer.

A William Smart-designed home opposite Werri Beach at Gerringong set a new record for the seaside town when it sold for $2.15 million through Ray White Gerringong.

Local developers Mark and Janet Lamble bought the north-facing block of land opposite the beachside reserve in 2010 for $765,000 and then built their dream home on the 750-square-metre site.

The property sold after auction to a Sydney couple, who plan to use the home as a weekender.

Also selling for seven figures was a six-bedroom home on 6000sqm parcel at 23 William James Drive, Mount Kembla, the property selling through Belle Property for $1.46 million.

A four-bedroom property at 59 The Drive at Stanwell Park sold prior to auction for $1.15 million through Ray White Helensburgh.

Worth a look

• A four-bedroom Mangerton House for $679,000 through Dimosons.

• A three-bedroom house at Mount Pleasant for $490,000 through ONEAGENCY.

• A five-bedroom Thirroul house for auction through Belle Property Wollongong.

• A two-bedroom townhouse at Wollongong for $429,000 through Ray White.

• A two-bedroom North Wollongong apartment for $449,000 through Brailey First National.

Click here for Domain's full guide

Smartphone
Tablet - Narrow
Tablet - Wide
Desktop