Hudson Conway to sell remainder of Somerset Rise land holding in Albury

Melbourne-based developer Hudson Conway has appointed CBRE to sell its Somerset Rise project in NSW's Albury, with offers expected to exceed $10 million. 

The developer wants to exit the project to focus on those closer to its base in Melbourne.

Spanning nearly 42 hectares, the project has already delivered 76 houses across stages one, two and three.

The land holding has been developed over the past few years into a development for house and land buyers, underpinned by its location just minutes from Albury Airport and reputed educational facilities nearby.  

"There are 51 lots ready to be sold or developed as well as 288 undeveloped lots in future stages. We are selling the project as a whole, with the buyer to benefit from the work completed by the vendors to date," said Wizel. 

Wizel expects offers from a range of local developers, from South Australia, Victoria and greater New South Wales.

The average block in Somerset Rise has sold for around $132,500 in the past 18 months.