Villawood Properties have introduced a ballot for the next stage of land release in the Lyndhurst based community, Aquarevo.
As a collaboration between developer Villawood Properties and Victorian Government water utility South East Water, Aquarevo will be home to 1200 residents and will use three sources of water - drinking, recycled and rainwater - to help reduce drinking water use in each home by up to 70 per cent, making the community Australia’s most water efficient greenfields housing development.
Aquarevo First Stage Release Proves Sustainability In Demand]Villawood Properties Executive Director Rory Costelloe said the decision to move to a ballot was driven by Villawood’s motivation to deliver a fair and transparent process to the 3,500 potential purchasers who have expressed an interest to buy at Aquarevo.
“Due to current market conditions where demand for land in Lyndhurst has steadily been increasing over several years, which has been reflected in ongoing price increases, we’re acutely aware that potential purchasers are anxious to secure a lot.
“Villawood Properties creates all its communities with sustainability – in every sense – in mind," he said.
Aquarevo will utilise OneBox technology from South East Water which will monitor water and energy use to maximise efficiency in every home. Up to 70% of household water will be saved by using rainwater tanks to supply hot water, and recycled water to be supplied for toilets and gardens. Solar panels will reduce household use of non-renewable energy by up to 50%.
There will also be provision for battery storage and electric vehicle charging points to future proof homes.
Under the new process, registrations will be taken and then registrants will be given a paddle with a number corresponding to a ball within a clear-sided barrel, and will be advised to have multiple lots in mind should their number be drawn.
Mr Costelloe said various options for releasing land in the highly sought after development had been reviewed, but the ballot was the fairest means based on the transparency and minimal impact on land prices.
The purchaser profile at Aquarevo was identified as predominantly families looking to upgrade to their second or third family home. Would-be residents tend to be highly motivated by the combination of the Lyndhurst location and the community's sustainability measures.
It is anticipated that there will be approximately 150 buyers’ groups in attendance hoping to secure one of 49 lots being released. To accommodate the strong attendance, Villawood Properties is staging the ballot at Aquarevo’s neighbouring Lyndhurst Primary School.