The Suburban Land Agency will bank $1.37 million after the rare but rapid sale of four country blocks in the historic village of Tharwa in the Territory’s south.
Colliers’ Josh Reid said the blocks lasted only 13 minutes when released last Wednesday (3 June), all snapped up by purchasers with local connections.
Pitched as having all the attractions of country life but the convenience of being only 14 km to the Tuggeranong Town Centre and 25 km to the Woden Town Centre, Tharwa, according to the SLA, is the perfect opportunity for a country lifestyle, to create a more sustainable and self-sufficient presence, and be part of a close-knit community with a rich history.
It was a message that resonated with potential buyers, with the blocks on opposite sides of the village attracting a huge volume of interest but the locals were too quick.
”I knew nothing had been released there for some time so I knew demand would be strong but it far exceeded what I’d expected. We had huge volumes of inquiry and a there were a lot of people keen to get a block of land out there,” Mr Reid said.
The unserviced blocks were some of the biggest on the Canberra market, ranging in size from 1,635 square metres to 2,023 square metres, with three blocks priced at $350,000 and the other at $320,000.
Mr Reid said the buyers’ local knowledge was an advantage in securing the blocks.
”That’s probably one reason the locals were quick to move on them because they’re comfortable with what they’re dealing with out there,” he said. ”They certainly knew what they were up for and were able to act quickly.”
Mr Reid said the purchasers had either grown up in the area or lived on farms nearby, and the intention was to build single-use residential homes.
”It’s a bit of a generational story. A couple of families have purchased with the idea that the kids will be moving in there,” he said.
The blocks are zoned RZ1 – Suburban, and the SLA says development will be subject to the guidelines and precinct codes in the Tharwa Village Plan 2018 to ensure Tharwa maintains it unique character and charm.
Mr Reid said there would be another opportunity to buy into a country lifestyle, with more blocks to be released, although he did not know when.