AVJennings will launch a new $42 million townhome development in Brisbane’s south-western corridor this month (October) to meet demand for property in the rapidly growing area.
Construction has already begun on Villaggio, which will comprise a total of 131 quality three bedroom townhomes, priced around the mid $300,000’s
The project is situated in Richlands, 16 kilometres from the Brisbane CBD – an area undergoing significant expansion on the back of public and private investment.
AVJennings executive general manager of developments, Graham Marshall, said Villaggio would meet strong demand in the area for quality, affordable real estate.
“Richlands is an area that’s on the move and people are starting to recognise it,” he said.
“There is increasing interest for properties in the suburb, particularly those that are best positioned to capitalise on the region’s future growth.”
Mr Marshall said a number of major development projects were planned or underway in Richlands and its surrounds.
“There are a range of new infrastructure projects in the pipeline, spearheaded by the railway line between Darra and Richlands, now under construction and set to be further extended to Springfield, to service the expanding population,” he said.
“We are also increasingly seeing the big players come to this side of town, with work now well underway on a new Woolworths supermarket and a McDonald’s restaurant, which will further add to the diverse mix of amenities already available.
“Brisbane City Council has also developed its draft neighbourhood plan for Richlands, aimed at further facilitating its expansion, by encouraging growth of housing and employment to continue attracting new residents and investment.”
Mr Marshall said with the area continuing to expand, strong interest was expected from both owner-occupiers and investors in Villaggio.
“There is a lack of supply in the area for quality new and affordable properties, so Villaggio will help to fill that demand,” he said.
“We expect enquiry from investors looking to take advantage of the area’s growth and expected steady returns, which AVJennings has a track record for delivering in its projects across the country.
“We also anticipate the community will hit the mark with owner-occupiers, who want to secure a foot-hold in the property market and live in a quality residential community.”
Mr Marshall said early interest in Villaggio had been strong.
“The moment site works began, we started to receive enquiries and have been taking expressions of interest prior to the official release,” he said.
“Demand has come from the surrounding community and we also have a number of AVJennings staff who are keen to purchase in the development.
“Villaggio delivers the whole package – new and well-located properties, a landscaped community, exceptional value for money and the trusted AVJennings name.”
Villaggio will feature a selection of three bedroom townhomes, with open plan living areas extending to private courtyards. Each of the townhomes features air-conditioning, quality finishes and double garages.
The community has been designed in an ‘alternate facing’ format to deliver an attractive streetscape with a diverse range of home frontages, and will be fully landscaped.
For further information on Villaggio, please visit www.avjennings.com.au or call 131 878.
The above information is supplied by AV Jennings.
Disclaimer: while due care is taken, the viewpoints expressed by sponsors do not necessarily reflect the opinions of Your Investment Property.
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