UrbanGrowth NSW has sold the final 200 undeveloped lots in its Sanctuary Estate residential project at Newcastle.
Located at Fletcher, a developing outer suburb of Newcastle, the lots were sold to Kincorth Pty Ltd.
On the doorstep of the Hexham Wetlands, the estate has already seen the release of over 600 residential lots. When complete, the $340m master planned, residential development will deliver over 890 new home sites for an estimated 1,300 residents by 2018.
Sanctuary Estate boasts a range of community facilities and infrastructure, including sporting fields, the Fletcher Neighbourhood Centre, perimeter bicycle and walking tracks, public art work, aboriginal heritage parks, and local parks with views to the Watagan Ranges.
UrbanGrowth NSW Head of Western Sydney Projects Matt Beggs says the sale reflects the ongoing demand for residential offerings in this growing area of Newcastle.
“This release provides an important supply of quality greenfield land and housing in Newcastle’s western growth corridor, while incorporating water sensitive urban design features, bushfire mitigation measures and indigenous cultural heritage areas.
“The tender process found Kincorth Pty Ltd had a proven track record and capacity to continue developing Sanctuary to meet market demand.”
Stages 18 to 23 of the project were offered for sale by tender through agents JLL.
UrbanGrowth NSW will continue to work on the Sanctuary Estate, to complete all transactions relating to the first 17 stages of the development including all contract requirements with purchasers who have bought lots which benefit from front yard landscape packages and design guideline requirements.