South Place Sell Out, $4m+ in Sales Within 24 Hours
Moremac Property Group (Moremac) has experienced significant demand for its South Place project in Deebing Heights having sold an entire stage release within 24 hours of its release.
Date
30.04.2024
Author
Moremac Property Group
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Released on a Saturday, Stage 4A was completely sold out by day’s end with 13 lots in total secured by a mix of first and second home buyers and capped investors.
In total, Moremac secured $4,254,000 in sales at an average of $327k+ per lot, with sizes ranging from 320 to 480 square metres within the estate located at 152-280 Grampian Drive in Deebing Heights, approximately a 35-minute drive from Brisbane’s surrounding suburbs.
The pace and volume of the sales is the second most significant result to date at the South Place development, following the $6.3 million dollars in sales within the first stage.
The South Place project is located within the Ripley Valley Priority Development Area (PDA) designated by the Queensland State Government to provide much needed housing supply in the rapidly growing South-East Queensland region.
A total of 19 lots were secured in the project’s first week of release to the public, combined with the latest results from Stage 4A, there is clear indication of the demand for land and housing in the state and region.
“We’ve had terrific results at South Place, it’s encouraging to see a mix of buyers purchasing here,” said Lachlan Moore, Sales and Marketing Director at Moremac.
“We’re in a fortunate position to be able to release further stages just to meet demand.”
South Place’s next release, Stage 4B, consists of another 13 lots between 300 and 567 square metres and will be available to purchase in early May.
Moremac expects similar results for the upcoming and future stages as developers continue to provide sorely needed stock for purchasers.
On completion, South Place will incorporate over 900 homes, a new retail centre, a future primary school, over 40 hectares of public green space, four parks, and an extensive bike and pedestrian network.
Since 2010, Moremac has built a track record of successful projects from boutique infill estates to new large-scale neighbourhoods, and since inception has delivered projects with an end value of approximately $1.6 Billion sold over 5,500 land lots, and has a pipeline with an end value in excess of $2 Billion.
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