In late 2014 we undertook a marketing campaign for a 36 Hectare parcel of land situated on the Northern side of Bundaberg in the suburb of Gooburrum. The site was free of constraints, close to services and nicely elevated. The property has a current Development Permit for delivery of 150 lots over 4 stages with lots ranging in size from 1,500m2* to 2,878m2* (avg 1,936m2*)
General engagement and interest in this property was poor as the market was concerned about the depth of demand for rural residential product in this location. Historically the adjoining estate was only demonstrating 1 sale per month which most groups indicated was not strong enough to justify undertaking an estate of this nature.
Groups with interest advised that in order to generate a reasonable rate of sale they need to be able to engage with builder and investment markets. These markets will generally only concentrate on urban lots rather than rural residential lots which tend to sell to owner occupier markets at much slower sales volumes.
|Method of Sale:||Expressions of Interest|
|Marketing Timeframe:||6 Weeks|