Sunland's Whyte Residences in Bundoora sell out two weeks after launch

All 68 townhomes in Sunland Group’s Whyte Residences project in Bundoora's University Hill have been snapped up within a two-week timeframe, as the developer looks towards its next two projects in the pipeline.

Architecturally designed in-house by Sunland Group, Whyte Residences features three-bedroom homes with balconies overlooking Plenty Gorge parklands and are priced from $550,000 to $620,000.

“With such great proximity to Bundoora’s university, employment and shopping precinct we have seen a strong pull from both the local and overseas owner occupier markets,” says Craig Wright Sunland’s Victorian sales and marketing manager.

“We believe Whyte Residences holds many attractions to owners and families that have selected University Hill specifically due to its proximity to the CBD and the abundant, vibrant amenities surrounding it.

“We have also recorded 10 sales from Sydney which suggests to us that there is quite a bit of movement from Sydney’s investors into Melbourne’s residential market due to its affordability and strong long-term outlook.

“To sell out of all 68 homes in just two weeks – especially considering the current climate – is astounding.

“We are delighted with the project’s swift sell out and it certainly reassures us as to the demand for our luxury townhomes as we move to announce our next two projects over the coming months,” says Wright.

Construction on Whyte Residences is scheduled to commence in February with settlement approximately 18 months after.

Sunland’s next project is a similar townhome development located in Chirnside Park.

The Gardens will feature 176 two- and three-bedroom townhomes with two-bedroom priced from $390,000 and three-bedroom apartments priced from $470,000.

Two-bedroom townhomes are 82 square metres and three-bedroom townhomes range in size from 163 square metres to 203 square metres.

The Gardens is due to be released in February next year.

Sunland’s third project in the pipeline is to be launched in 2014 and will feature 240 townhomes of mixed designs in Springvale, it's to be known as Carre.

Sunland's Eton development in University Hill sold out within a month in 2011.