Villa World's $55 million development at Oxenford is proving successful with at least 8 sales a month.

Villa World has developed the 36-hectare site in Maudsland Road into a residential project that will consist of 210-house lots, with about 68 of the homes already sold in stages one and two with total sales of $24.05 million. Stage 3 is expected to be released later this year.

The initial releases comprised of a range of up market house and land packages with prices between $338, 900 and $408,900. Homes will be offered in a variety of low-set, split level and two-storey design s ranging in size from 200 to 288sqm with 3 or 4 bedrooms, en-suites and double lock up garages. The Reserve is built on land that was once home to a prominent palomino stud, Vermont Park, owned by the late Pegeen Baker.

Villaworld bought the land for $3.6 million from Pegeen Baker's family about 3 years ago after her family decided it was time to move on. Ms Baker was the third owner of the 36.4 hectare property, which she bought to in 1960. The land was originally selected by a pioneering family, the Matthewsons in the 1860's and run as a dairy farm. Villa World's sales and marketing manager, Dean McMahon, said he believed part of the project's success has been a demand for quality urban dwellings in a country environment.

"Many people are still attracted by open spaces and parkland, while still being close to amenities." Said McMahon.

"the development of a major town centre in Coomera will be a major supporting infrastructure for the greater area."

Incorporating retail shops, services, businesses, medical facilities and financial institutions, the Town Centre will be less than 10 minutes drive from The Reserve. About a third of the estate will be developed for housing. The rest will remain as nature reserves, parkland and a koala corridor. "the historical aspects of the site have also been preserved and if you wander down to the old Bunya pine in front of the estate, there's a plaque with a dedication Peg Baker, who is buried under the tree along with her best friend, a beloved stallion named Texas Gold" said MR McMahon.

He said while it was not always possible to preserve history, developers could make a conscious choice to develop estates where the homes blend with the typography of the land and take advantage of nature. Villa World was incorporated as a listed entity in 1986 and started operations in south east Queensland, rapidly expanding throughout the 1990's to become on of the nations largest developers of homes, land and apartments. The company has developed more than 12,000 house and land parcels since it started, and has 14 projects in various stages of planning or construction I south east Queensland.

Copyright: The Weekend Bulletin 2005.

Source: The Weekend Bulletin, SAT 10 SEPT 2005.