Australian property and investment company Jinding has wrapped up the sale of its $116 million “Octave” development at Junction Village in Melbourne’s outer south east, with 100 per cent of the lots snapped up.
Located beside the Royal Botanical Gardens Cranbourne in the City of Casey, the sustainability-driven community comprises 321 lots ranging from 294 to 1629 square metres with 7-Star Green Star townhouses, and around 21 percent of the masterplan dedicated to parks and conservation.
This brings every home to within at least 200 metres of green space, which as we covered in our recent article is a great thing for investors and also tied to happiness in a big way.
The homes will achieve a 7-star energy rating, and the carbon emissions produced during construction will be offset by the purchase of carbon credits with Greenfleet.
The three bedroom, two bathroom townhomes with two parking spaces are priced at $495,000. Four bedroom townhomes are priced at $535,000 and $545,000.
Agents red23 closed the sales, with investment company Jinding chief executive Luke Guthrie attributing the strong sales to the environmental outcomes that were centred in the development’s design.
Mr Guthrie said: “We can see this has driven keen interest among a broad range of discerning buyers and it’s living, breathing proof that sustainability can drive commercial results.”
The community features a central open park space with children’s playground, established trees and native vegetation including Stringy Bark trees. All green spaces within this walkable neighbourhood are connected by cycle, equestrian and pedestrian paths.
The development’s conservation reserve is a well-preserved habitat for the Southern Brown Bandicoot, listed as an endangered species in New South Wales and known only to inhabit two areas on Earth.
The developers decided to put a wildlife corridor along the waterway in the development, and a reserve that extends along the western boundary of the site provides a habitat connection to the Cranbourne Botanic Gardens.
“Melbourne’s south east is an area experiencing rapid growth and funding … As such, the opportunity to deliver a premium, sustainability-driven development in the area is an incredibly exciting one,” Mr Guthrie said.
The majority of homes are under construction in the fully-sold first three stages. Land construction of stage four is currently underway with settlements anticipated for Spring this year, while the final stages (five to seven) are expected to settle later this year.
“We’re looking forward to delivering the first stage of high-quality homes at Octave to customers this year,” Mr Guthrie said.
Since Jinding launched in Melbourne five years ago, the business has acquired eight sites in Victoria and settled the first three stages at Octave and its Harriott master planned community in Armstrong Creek, near Geelong. The company has expanded into Queensland with its first development in the Gold Coast.