All blocks in the first land release in the much anticipated The Waterfront estate at Shell Cove were snapped up within a few hours of going on sale on Saturday morning.
More than 140 people pre-registered earlier this month for the first land release of 21 residential blocks at the long awaited Shell Cove marina.
Shell Cove, Frasers Property Australia Development Director Glenn Colquhoun said said he wasn’t surprised by the huge demand and quick sales result given the level of interest seen in the development so far.
The land release comprised lots ranging in size from 393 to 814 square metres, with settlement and construction of new homes able to commence in mid 2016. The price guide for the land lots was $435,000 to $635,000.
Located in the Anchorage precinct of The Waterfront, the blocks will be within walking distance to the 300 berth marina currently under construction, and the future town centre which will include a library, community centre, supermarket, cafes and specialty shops.
Shell Cove is the largest coastal residential development ever initiated by a local government authority in Australia. Its man-made harbour will be around 30 per cent larger than Sydney’s Darling Harbour upon completion.
“We are very proud to be part of such a significant development located along some of the most beautiful coastline in New South Wales,” Mr Colquhoun said.
“The value of the premiere release land lots at The Waterfront, Shell Cove is enhanced not only by the convenience of the local town centre and the regional shopping centre being just a short drive away, but also by the many different lifestyle activities on offer for residents.”
The release of the first land lots is a major milestone for the joint project between Frasers Property Australia and Shellharbour City Council.
Shellharbour City Council Mayor Marianne Saliba said she was proud to see the development reaching its milestones.
"We are striving to create a dynamic place that will enhance the coastal setting and optimise the potential for the community and visitors to enjoy," Cr Saliba said.
"This is an ambitious project that is reaching its milestones and creating a really liveable and vibrant space.”
Meanwhile the first release of land suitable for duplex development at The Waterfront has just been released.
Only six corner blocks are part of the release, ranging in size from 524 metres square to 593 metres square.
Interested buyers must first pre-qualify though an expression of interest submission before being invited to tender for any of the lots.