Another development site in the Warnervale Town Centre has been sold with a parcel of Woongarrah land collecting $6.4 million.
This highly sought-after subdivision site was purchased by a Hong Kong developer who has appointed a local project manager.
Sydney selling agents Matrix Property said that the level of interest from developers was fervent.
“The EOI attracted over 80 inquiries and over 8 offers,” agent Godfrey Franz said.
“The area is popular with first home buyers at lower prices hence the popularity of the offering to potential developer or buyers producing housing products in the sub $650,000 price point.”
The 5.6 ha residential subdivision site at 40-78 Hiawatha Rd can include up to 85 lots.
The property is part of masterplanned Warnervale the Central Coast’s largest development and growth areas with projections of 40,000 new residents over the next 20 years.
Mr Franz said that despite the anxious outlook for property, the success of this campaign said otherwise.
“We are seeing many confident and cashed up developers coming back into the market,” he said.
“A nearby estate on Sparks Rd recently released 60 lots and they completely sold out before Christmas.”