How We Are Transforming 60 Acres into a $20M Luxury Estate
The Value of Location
So here is how we are transforming 60 acres into a $20m luxury estate. In the initial feasibility study, a critical eye was cast over the potential sales value across the estate, with particular attention paid to the varying perceptions of value attributed to lots situated on either side of the road. It was observed that lots elevated above the road level invariably command a premium, a testament to buyer preferences for higher ground, untroubled by concerns of water ingress—a stigma attached to lower-sited properties, regardless of the actual risk. This insight into buyer psychology was crucial in guiding the pricing strategy for the estate.
Infrastructure Enhancements for Future-Proofing
Stage 2’s development underscored the necessity of upgrading the existing electrical network to accommodate the additional 18 homes. This requirement led to the installation of new high-voltage infrastructure, a common hurdle when expanding residential communities. Such enhancements not only cater to the immediate needs of the new estate but also contribute to the broader resilience and capacity of local infrastructure.
Seclusion and Layout Present Unique Opportunities
The estate’s design, favouring seclusion and quiet cul-de-sacs, enhances its appeal. However, it also required temporary solutions, like turnaround areas, to ensure accessibility. Additionally, the land’s topography posed challenges in lot design and stormwater management, particularly for lots at the estate’s lower elevations.
Stage 2 faced delays due to consistent rainfall and lockdowns, yet the team’s determination saw the project through to completion. With presales settling by the end of 2022 and the final lots sold into 2023, this phase exemplifies the challenges and triumphs of property development.
A Successful Conclusion
The completion of Stage 2 marks a proud moment for the “The Lake” community project. This story, from planning to completion, highlights the complexities of creating luxurious estates that captivate buyers and enrich communities. Through dedication, innovative thinking, and a commitment to quality, “The Lake” emerges as a model for future developments, embodying the potential to transform landscapes into coveted living spaces.
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