Retirement could not come soon enough for Mr and Mrs Lin, after their son David used his savings to purchase a block of land in Victoria Point for the couple to relocate to Australia.
David Lin, a Mechanical Engineer from Rochedale, purchased his parents’ block in the bayside suburb, after moving to the river city in 2014 and falling in love with the Eastern pocket.
“I’ve been living in Rochedale for nearly seven years now and have been wanting to relocate my parents for quite some time, and now their retirement is near, the time has come,” Lin said.
As one of the first to register for Stage One, Lin purchased Lot 25 at Arc on the Point and secured his foot in the door before the flood of eager buyers rushed in.
“I wanted my parents to be within a short distance from where I am and saw Arc on the Point and registered my interest straight away as I knew it was going to be a popular release.”
Lin says Lot 25 is a retiree’s dream, sitting on a 425m2 block with 14 metres of primary frontage and ample room for a sizeable backyard.
“I know my parents would want a bigger block, which are hard to come by in this area. I’m pleased to have found a development that offers primary frontage and larger blocks of land.
“The location is perfect for what my parents are after, it’s got that community feel and conveniently located to the Point, shops, the highway and me, of course. I can’t wait for my parents to experience the beauty of Australia right here in Victoria Point.”
The $92 million-dollar Urbex development will provide 261 allotments once complete, spanning across 20.6 hectares of land in the heart of Victoria Point, with over 23 per cent of the development committed to open space, landscaped parkland, and conservation areas.
Lots in the first stage release range from 354m2 to 639m2 and priced from $360,000 to $470,000. The development sits competitively with the current median sales price of land in the area being $466,322 with the most common size category ranging from 350m2 to 450m2.
Urbex Realty General Manager Craig Covacich says they are thrilled to be developing in the area again to deliver prime land in a market starving for new housing opportunities.
“According to CoreLogic’s most recent Suburb Statistics Report, the Redland shire holds 160,331 permanent residents and is growing by approximately 2,100 new inhabitants per annum, creating an underlying demand for approximately 800 new dwellings on average each year,” Craig said.
The Victoria Point area has been renowned for offering a tranquil and balanced lifestyle of spacious property, mixed with nestled bushland as well as the luxury of close proximity to the bay.
Arc is perfectly situated to maximise the existing characteristics in the area, including a short 3-minute drive to the Victoria Point Shopping Centre buzzing with dining options, boutique shops and a cinema, an 8-minute drive to the Redland Bay golf course or a 10-minute trip to the beachfront walk, jetty and boat ramp. Coochiemudlo and Stradbroke Island are also just a short ferry trip away.
The first release is currently under construction and is expected to be delivered by the end of 2021.
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