Saturday 30 August 2006
Just 12 of 108 lots remain at Devine's 'Lakeside' community at
Andrews Farm, with the developer reporting record sales over the
past two months.
Residents are now beginning to move into their new homes within
the first stage of this four stage development, enjoying the
community reserves, picturesque lake and walking trails.
A 30-minute drive north of the Adelaide CBD, 'Lakeside' will
feature a display village of 16 homes which are now under
construction from eight competing builders. Prior to Christmas the
general public will be able to progressively inspect designs from
AV Jennings, Homestead Homes, Ian Wood Homes, Nu Steel Homes,
Distinctive Homes, De Chelis Homes, CIP Constructions, and Devine
Homes.
"Incorporating Adelaide's leading builders within 'Lakeside'
ensures the general public has a greater choice of housing styles,
and encourages all participating builders to provide the very best
value for money in newly displayed liveable designs," said Devine's
South Australian State Manager Steve Weightman.
The 12 remaining lots at 'Lakeside' include land priced from
$87,000, and home-and-land packages with landscaping from
$188,900.
"'Lakeside' has been extremely popular with first and second
home buyers, and our contract sale deposits in July and August were
at record levels," said Mr Weightman.
"We also have had interest from investors, including some from
as far afield as Sydney, who are taking advantage of Adelaide's
property value growth and Ray White's guaranteed 4%p.a. rental
returns for the first 12 months."
The overwhelming success of 'Lakeside' prompted Devine to
purchase six hectares of adjoining land in May. Mr Weightman is
hoping to have development approval in October for the additional
98 lots, which will extend the 'Lakeside' estate to 206 lots, and
an end value of more than $50-Million. Further land acquisitions
and development are planned by Devine in the area.
Andrews Farm is close to the high employment centres of
Elizabeth and Playford which contribute around 70% of the State's
manufacturing. It is a convenient, well serviced area with at least
10 primary and secondary schools nearby, while Adelaide's CBD is
easily accessed by road and train services.
Devine's National Manager of Housing-and-Land, Paul Nash, said
the company was looking for more opportunities like 'Lakeside' to
enhance its reputation in South Australia as a developer of
quality, fully-serviced communities.
"We have great faith in the strength of the Adelaide property
market, and we will continue to seek well located and good value
development sites," Mr Nash said.
Devine is currently a nationally-recognised 'top five'
developer, with approximately $2-billion in end value projects
planned or underway in Queensland, Victoria and South
Australia.
'Lakeside', on Davoren Road at Andrews Farm, is open for
inspection on weekends from 2pm to 5pm. Additional information is
available on Ph: 13 24 66, and www.devine.com.au.
Released by: Devine South Australia, Ground floor, 212 Pirie
Street, Adelaide 5001
Contacts: Steve Weightman, SA Regional Manager, (08) 8306 5678,
0411 866 443
Prepared by: Barry Hyland, PR Plus, Level 1, 272 Pacific
Highway, Crows Nest 2065;
Ph: (02) 9439 9191, (0412) 354 992; Email: pluspr@ozemail.com.au