THE first lots of land in the $108m masterplanned Riverina Gold Coast Estate go on sale next week, with civil construction on Stage One also set to start this month.
The development is the work of Brisbane-based Pointcorp who purchased the land, formerly known as The Villa private golf course, three years ago in a hushed deal.
The premium property was a long-time Gold Coast retreat for multi-billionaire Toshiaki Ogasawara.
Mr Ogasawara’s mega mansion will be demolished in June so work can begin on Stage Two.
Stage One will see the release of the first 27 of a total 181 blocks that will make up the masterplanned community, spread across 16.96ha at Carrara. The first entry-level lots are between 310sqm and 510sqm, with prices starting from $360,000.
Expected to sell for $1m +
The average price throughout the development is $600,000, but those wanting a block with direct water access will need slightly deeper pockets, with waterfront blocks expected to sell for upwards of $1m.
Residents will have private use of a 26-berth marina with deep-water access to the ocean, while the central feature of the estate will be a 2.8ha lake with a pontoon, and walking tracks with exercise stations that will connect various recreational areas and green spaces.
Pointcorp managing directors Chris Vitale and Paul Gedoun said the estate was a rare opportunity for new-home builds only 10 minutes from the beaches of the central Coast.
“Our team identified the private golf course land as a unique opportunity to develop a quality riverfront subdivision that meets the current demand in the market,” Mr Vitale said. “There are limited opportunities for home builders to buy land in such a prime location.
“The Riverina estate masterplan is incredibly lifestyle-focused and includes state-of-the art resort facilities and outdoor recreational spaces designed around the property’s existing fig trees, with large lawn areas shaded by clusters of trees and modern shelters.”
Sales and marketing agency ProjX Group has been appointed to manage sales with strong interest expected in Stage One.
Clarendon Homes, Metricon and Brighton Homes have been appointed to build the Riverina Gold Coast Display Village, while a sales display office will open on site next month.