Former golf course land at Ginninderra Estate perfect pitch for downsizers

Buyers will have their second chance to purchase at Ginninderra Estate when land for 124 dwellings goes under the hammer on Tuesday.

The residential-only development adjoining the first, second and third holes of the 18-hole Holt golf course proved popular with buyers when land for the first 128 dwellings sold at auction in September for a total of $25 million.

Woodhaven Investments director David O’Keeffe says the first auction saw a 100 per cent clearance rate, with most of the blocks purchased by builders.

“I’ve spoken to the vast majority of them and the attraction was the location, the proximity to the city and the outlook,” Mr O’Keeffe says.

The land was formerly used for the 19th to 27th holes of the golf course. It was deemed unviable by golf course operators Belconnen Sports Club and closed for golf in 2003.

The 20-hectare estate will comprise 350 dwellings with a mix of block sizes. It is less than 15 minutes to the city, seven minutes to the Belconnen Town Centre and boasts spectacular Brindabella views.

Mr O’Keeffe says while the estate is located in Holt, it will be much like Gleneagles in Kambah: its own enclave with the surrounding golf course providing privacy.

He says the land sizes and prices will be popular with downsizers and that homes will be built with older residents in mind.

“We wanted to have housing available that the ageing West Belconnen population would find suitable,” Mr O’Keeffe says.

The second land auction will include 69 mid-sized blocks averaging 350 square metres, to be sold individually; 20 compact 250-square-metre blocks, to be sold individually and in groups of two and four blocks; two duplex sites of 621 and 742 square metres; and four townhouse sites ranging from four to 10 dwellings, with an average area of 434 square metres per dwelling.

The offerings are similar to those released in the first stage. The mid-sized blocks sold for an average of $270,000, while the compact blocks averaged $232,000.

A development application for stage one of the subdivision works for 322 dwellings has been lodged and approval is expected by the end of the year. Mr O’Keeffe says he expects subdivision works will start in January with homes to be completed by the end of 2016.

As part of the development of Ginninderra Estate, the existing golf course will be retained and improved, with extensive renovations to be undertaken at the clubhouse in 2016. Every home buyer at Ginninderra Estate will be provided with a choice of either two golf club memberships or one two-year membership.

The auction will take place at the AIS Theatrette on Tuesday at 10am. Email ginninderraestate@gmail.com for sales documentation.