More than 100 buyers have rushed to snap up the latest land release at the $2 billion Woodlea community in Melbourne's west, with all 33 lots selling out within three hours of its launch.
Some of the buyers even camped out overnight to ensure they had first pick of the exclusive land release, which included blocks sized from 350-759sqm and priced from $159,000.
Woodlea Project Director Matthew Dean said the camp-outs and sell-out success of the latest stage highlighted the demand for entry into Woodlea, with over 5,000 enquiries already registered.
“We anticipated some queues following the strong interest in the weeks leading up to the release but it was overwhelming to see some buyers choosing to camp-out overnight," he said.
“Following the response from the weekend, we will be bringing forward the next land release, which is anticipated to occur in four weeks’ time, and offer a wider selection of blocks to ensure we can keep up with the demand."Since launching in late March, Woodlea has sold 229 lots in less than three months.
“The quality infrastructure that is being invested into Woodlea provides us with a competitive position in the market driving demand from a range of buyers including first home owners, upgraders and even a handful of Sydney residents," Mr Dean said.
A joint venture by leading developers, Victoria Investments and Properties (VIP) and Mirvac, Woodlea will span 711 hectares, once complete over the next 15 to 20 years. It will feature some 7,000 houses and be home to up to 20,000 residents upon completion.
The project will feature a neighbourhood park, general store, café and display village all planned to be delivered in time for the first residents in 2016.
A proposed agreement with Bacchus Marsh Grammar is also in place to establish an early childhood and pre-school centre in 2016 and a P-6 primary school planned to open in 2019.
Woodlea will include a Local Town Centre that spans 5,700 square metres which is anticipated to be delivered over the next five to seven years and will feature a public square, supermarket and retail stores, bus interchange, professional services and office space. There are also plans for a Work Integrated Learning Centre for the area.
Woodlea will also deliver sporting facilities including an indoor sports centre, sports pavilion, tennis courts, netball courts and fields for cricket, football and soccer.
Approximately 30 per cent of Woodlea is dedicated to open space including walking and cycling paths and playgrounds.