Capestone’s Latest Land Release Sells Out in Hours

30 May 2022

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National award-winning developer, Urbex, has set itself a new sales record for the popular Capestone development in Mango Hill, by selling 25 blocks of land within two hours of their release.

The ‘Richard Release,’ within the family orientated Brisbane north suburb, consisted of 25 premium lots ranging in size from 320m2 to 450m2.

All well positioned to the centrally located 12.8-hectare lake, prices for the land release started at $520,000, and for the limited number of lots featuring extensive lake views, went up to $750,000.

The land release also coincided with Brisbane’s recent extreme weather and flooding events, with interested buyers encouraged to submit preferences via email and phone rather than face treacherous road conditions.

Peter Sherrie, Urbex General Manager said the location of the land to the near 13-hectare lake, combined with Capestone’s mature amenity and quality of lifestyle, had proven to be major draw cards for those snapping up this latest land release.

“As you near the final stages of an Urbex community, such as Capestone, you can truly appreciate the expertise and thought that goes into every stage from planning through to delivery” Mr Sherrie said.

Located in the well-connected corridor in Brisbane’s North, 40 minutes to the CBD but just minutes to Moreton Bay, house prices in the Mango Hill area have outpaced the national growth average four times (4.40% compared to 16.53%) over the past 12 months.

Craig Covacich, General Manager of Urbex Realty said the sell-out result, in the face of extreme weather conditions, reflected Capestone’s popularity as community.

An important function of the lake is to provide flood immunity to the Greater Capestone Development and the lake has performed as expected when tested by recent weather events.

“Beyond Brisbane’s hot property market, this record-setting sell-out is a true testament to the long-term value of purchasing within an Urbex community,” Mr Covacich said.

“There’s no shortage of amenity; Capestone Village itself offers local dining and shopping convenience, plus there is the neighbouring retail and entertainment precincts of Westfield North Lakes,” he said.

Sales Consultant Patricia Sheahan, said ‘the relaxing and healthy lifestyle that is at the heart of the Capestone design is impossible to miss.”

“Buyers love that approximately one third of the entire development committed to open space and parkland, and that there are six playgrounds plus active zones for adults all placed across key pockets” Ms Sheahan said.

With Urbex commencing the first stage of Capestone in 2011, the award-winning developer has created a real sense of community over the past 10 plus years. The development is anchored in its 12.8-hectare central lake that is surrounded by abundant BBQ and picnic spots, which are all connected by bikeways and walking paths.

This latest land offer was the first of the final stage of Capestone’s lakeside precinct, which Urbex plans further land releases over the coming months.

Published: Courier Mail 28/04/2022 Mango Hill Capestone housing development sells out in two hours(article link).

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