Land developer Clearstate has just purchased 1.7-hectare of land on Box Road, Box Hill, for a purchase price of $6.78 million.
The estate is expected to yield a housing development of up to 30 detached dwelling lots of between 300sqm and 500qm, with a sales release slated for November 2020.
The new land parcel is situated only 200 metres from Clearstate’s recently-completed Candlebark project.
Clearstate General Manager, Steve Barlow said: “This new project consolidates our position in north-west Sydney and builds upon our experience in the area.
“Our founder Dean Willemsen was born and bred just up the road in Galston, so we are genuine about our commitment to this region, which offers a fantastic mix of amenity and affordability.
“That’s why we are now in discussions with other landholders in the area to investigate further ways in which we can expand our offering.”
Established in 2011, Clearstate has so far developed 12 projects across north-west Sydney, including the aforementioned Candlebark project in Box Hill, as well as sites at Garfield Road Riverstone, Alex Avenue Schofields, and Tallawong Road Rouse Hill contributing over 350 lots.
Mr Barlow says the region is perfect for first home buyers and downsizers, with the former group becoming increasingly active in the property market again.
“We’re definitely seeing some strong green shoot activity from first home buyers, who are making up the bulk of our enquiries and sales at present.
“Overall, the outlook for the north-west is exceedingly positive, with growing employment opportunities, transport options, health infrastructure and migration all reinforcing the future prospects for land and home owners in the region.”
Mr Barlow also predicts a solid recovery in the Sydney property market in the wake of the COVID-19 pandemic.