The remaining undeveloped lots in Tullimbar Village have been sold, with the sale described as “one of the biggest transactions in Wollongong in recent times”.
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The developer of Tullimbar, Neville Fredericks recently announced that he was retiring, and the decision was made to sell the balance of the project. Mr Fredericks said they had developed and sold more than 300 home sites in Tullimbar.
Buyer(s) were able to purchase the remaining undeveloped lots in the Tullimbar Village.
Read more: Townhouses at Shell Cove sell out
Colliers International were appointed to sell the remaining undeveloped lots.
Simon Kersten, managing director Wollongong for Colliers said the buyer currently wished to remain anonymous and also not reveal the sale price.
However, he said “it was one of the biggest transactions in Wollongong in recent times”.
“All the unfinished, unstarted land, the whole lot has gone to one party,” Mr Kersten said.
The three Village Centre lots have the potential to deliver a low-yielding scenario of 75 terrace houses and 20 shop top housing, but can also deliver a high-yield scenario of 398 apartments.
Both scenarios will also house a supermarket, plus additional retail and a community facility.
The englobo sub-division lot is zoned with potential for 327 lots, including DA approval for the first 30 lots and a Section 96 application lodged for 49 lots in June.
