Harrington Grove scores top marks at UDIA Residential Development Awards
Harrington Grove, a premium residential community in Harrington Park, NSW was awarded the Residential Development of the Year (2013) award by the Urban Development Institute of Australia (UDIA) at the Awards of Excellence Gala Dinner on 26 July.
Harrington Estates managing director Terry Goldacre told Property Observer he was “very very honoured” to receive the award.
The Harrington Grove development has a strong focus on community by organising community programmes, events, and functions exclusively for residents.
The developers have also invested around $20 million dollars to build a country club which will be “the heart of the community”.
Facilities include four tennis courts, two swimming pools, a gymnasium, a restaurant, bar, and function rooms.
Goldacre added that sales have been “very very strong”, with owner-occupiers showing particular interest.
“The development is being developed to service and attract the upper end of the executive housing market in south-west Sydney, which generally does not attract investors,” he said.
Harrington Grove will comprise 1400 large homesites over six precincts.
The smallest home site measures 700 square metres. Over half of the estate has already been developed, and expected completion is in four to five years.
Land prices in Harrington Grove start from $280,000, while home and land packages will cost upwards from $600,000.
Lot 61 in the Magnolia precinct (pictured below) has been listed with a price of “from $300,000” on realestate.com.au.
Harrington Park was acquired by Sir Warwick Oswald Fairfax in 1944. He dreamed of turning it into an exclusive, private estate but did not live to see its realisation.
His wife, Lady Mary Fairfax, then took over the development of the suburb.
Harrington Park now has 2000 homes, a primary school, and a shopping centre, amongst other facilities.
According to the latest RP Data report, the median sale price of houses in Harrington Park is $546,850, up 0.3% on last year. The average discount required to sell a house is 4.9% and private treaty sales average 81 days on market.
The median asking rent for houses in Harrington Park is $520, while gross rental yield currently stands at 4.9%.