The Gables secure $95 million in weekend land sales

The Gables secure $95 million in weekend land sales
The Gables secure $95 million in weekend land sales

House and land buyers were out in force in Sydney's north west, where 159 of the 165 lots sold in the first land release at Celestino's The Gables project in The Hills.

Around $95 million of land was sold over two days in the $4 billion Box Hill project, at an average $600,000 a block.

"House hunters welcomed the idea that over one third of the land released was via an auction method with reserve prices published prior to the weekend," said development director Matthew Scard.

The first land release in The Gables Box Hill was released over two days through priority number and auction.

Lot sizes from 450sqm to 600sqm will be released, with prices starting from $520,000. Some lots are elevated and have views overlooking the entire project.

Matthew Scard, said over 13,000 people will eventually move into The Gables. with 4,000 dwellings will be built on the 3330 hectare holding. The development includes a proposed lake, a 5.5 hectare town centre, active and passive open spaces, a school, new roads and associated infrastructure.

Over 5,000 house hunters registered for the first land release in the masterplanned community. Sales ranged from $520,000 for a 450 sq m land lot up to $771,000 for a 702 sq m lot.

Jason Keen, sales director for Celestino said the sales result at the weekend was outstanding. The project is within a 10 minute commute from Rouse Hill Town Centre, the future Rouse Hill train station on the North West Rail Line and Schofields train station. 

The new sales centre is located at 121 Old Pitt Town Road, Box Hill.

For more information on The Gables click here

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.

Tags: 
Property Sales Box Hill

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