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Thursday, October 22, 2020
Addval Developments
Addval Developments

Multi-unit sites snapped up at Ginninderry auction

Local builders have snapped up four sites at Ginninderry, at an auction that saw the development achieve a 100% clearance rate.

The four multi-unit sites at the Ginninderry suburb of Strathnairn went under the hammer on Wednesday 14 October, with 15 local builders registered to bid.

Ginninderry’s project director Steve Harding said it is the second commercial auction for development sites in Strathnairn that has achieved a 100% clearance rate.

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He said the auction results reflect the growing demand being seen across the project.

“Today’s auction results demonstrate confidence in the medium density housing market and in Ginninderry more broadly,” Mr Harding said yesterday.

“We continue to see increasing demand across all product types and it’s pleasing to see that local builders have a high level of confidence in what we’re delivering too.”

The blocks sold for: $1,865,000 (2,349sqm); $1,260,000 (2,124sqm); $490,000 (535sqm); and $700,000 (792sqm).

The auction was held as registrations for the ballot for the final release of residential blocks at Strathnairn come to a close.

A total of 53 blocks between 455sqm and 1,275sqm will be sold via ballot, with registrations closing tomorrow, Friday 16 October 5pm. The ballot will be conducted Friday 23 October 5pm with the block selection day to take place on Saturday 31 October.

“After many years of planning, the initial stages of Ginninderry are taking shape,” Mr Harding said.

“Many residents are now settled in their new homes and a genuine community spirit is developing.

“Now is a great time for those considering land to take a look at how we’re doing things differently.”

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