Twenty-six of the the 49 lots released so far in a new housing estate at Barden Ridge have been sold, the developer says.
The first stage of The Ridgeway estate on New Illawarra Road, near Lucas Heights Community School and opposite The Ridge Sports Complex, went on sale in October last year.
Further releases in the 133-lot estate are due by the end of the year.
Chinese-based company, Dahua Group, which entered the Australian market in 2014, is developing the 14 hectare “boutique estate”.
The group purchased the land from Gandangara Aboriginal Land Council in a tender process that was completed early in 2017.
Dahua Group said in a statement the average sale price in stage one was $800,000 for a 550 square metre block.
Selling agent, Urban Land Housing’s managing director Christopher Lowry said The Ridgeway was “a fantastic opportunity for families to build their dream home in a community which will be impeccably maintained, private and tranquil and well serviced by schools, parkland and local amenity”.
Mr Lowry said all of the stage one buyers, and the majority of people inquiring, were local families, from Alfords Point, Bangor, Barden Ridge, Illawong, Lucas Heights, Menai and Menai Central.
“Buyers typically are second home purchasers and upgraders – young families looking to build a dream forever home which can ideally meet the needs of their family,” he said.
Father of three Daniel Halaska, who grew up in Sutherland Shire, said the location adjacent to the Lucas Heights Community School, which catered for students from kindergarten to year 12, was a significant factor in his family’s decision to buy into the estate.
Site works for the estate are due to commence in May.
