Only one block left to sell in Varsity

By Ash Priest, Bond University Journalism Student

Only one block remains for sale in Lend Lease’s original $2 billion development, 12 years after its inception.

The block is located in the South Bay precinct off Christine Avenue.

South Bay is a prime waterfront village overlooking the beautiful Lake Orr.

 “Do you want to buy it?” jokes Realty Services Manager of Lend Lease Andrew Stevenson.

Since its launch in 1999, Varsity Lakes has become one of the state’s fastest-growing communities and infuses $780 million into the regional economy each year.

The team involved have recently become two-time winners of the Urban Development Institute of Australia’s Boral excellence award in the category of best master planned development.

These awards provide recognition of excellence and innovation and are one of Queensland’s most respected and valued industry award programs.

Fifteen blocks have been sold in the last year at approximately $1,100.00 per square metre.

“The value has always been stable and rental returns are solid,” Mr Stevenson said.