Developer's fast-track multi-million dollar Rocky project
DEVELOPERS are fast tracking construction of a multi-million dollar Rockhampton estate.
Construction has begun on Parkhurst's Edenbrook estate, which was initially planned to begin at the end of 2018.
Developers are reporting that the first three stages of the estate have nearly sold out.
Investors are now flocking to the final stage, New Haven, for their last chance to snap up one of the blocks.
Edenbrook's Project Director Melissa Hytch, who is marketing the properties as "exclusive enclaves" that overlook or nestle up to extensive parkland, said high-demand is behind the move to fast-track the project.
Clyde Construction, the company which scored the lucrative contract to build the homes, has already begun earthworks, with construction tipped to end by March.
"With blocks selling quickly, opportunities to secure your slice of Springbrook and "New Haven" allotments are limited," Ms Hytch said.
"To have begun Springbrook two years earlier than scheduled speaks volumes as to how Edenbrook has been received by families looking for that relaxed environment to raise their children, and engage in the sense of community the estate offers.
"Of the 18 lots, five are already under contract prior to release with the first sods of soil only just being turned, with more buyers currently wishing to purchase off the plan."
It comes as the latest REIQ figures reveal tenants are flocking to Rockhamtpon, with vacancy rates dropping to 4.6% in October, down from 7% 12 months ago.
Rockhampton's property agents were also reporting a dramatic increase in enquiries from out-of-town investors ahead of the major announcements for the Adani Carmichael Coal Mine earlier this week.