MORE than three quarters of Villa World's $40 million land subdivision at Coomera has sold out.
Situated in Days Road, the 33ha Sommerton Ridge land estate is averaging 10 sales a month with 156 blocks of the 197-
lot estate already sold since its release.
Villa World's marketing and sales manager Dean McMahon said generously sized blocks at affordable prices had driven the
latest sales figure to $28.5 million.
``Coomera is one of the Gold Coast's fastest growing residential areas and with lot sizes between 855 and 1500sqm selling
from the mid $160,000, so it's a very appealing land estate for many buyers,'' he said.
Mr McMahon said the estate had been popular with UK buyers.
``The estate has seven hectares of parkland and plenty of open space and is close to the Coomera Anglican College, Saint Stephens College and the Dreamworld theme park,'' he said.
Mr McMahon said Villa World had focused on the area with the company also developing a $55 million village-style community of 210 homes, called The Reserve, in neighbouring Oxenford.
``Our strategy has been to acquire quality sites and Sommerton Ridge is well positioned to benefit from the area's continuing growth,'' he said.
Villa World bought the site for $8.4 million in 2003 from NCR Securities, a company associated with long-time Gold Coast developer and landholder Norm Rix.
Villa World is set to release a $30 million land-only estate, Aspect, in Tolga Road, Mudgeeraba, next month.
The majority of blocks at the 135-lot project, adjacent to the prestigious Mudgeeraba Forest Estate, will be sized between 800 and 2300sqm with prices starting at just under $200,000.

Gold Coast Bulletin, 19 November 2005