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Village Building Company goes over the odds to win Gungahlin dogfight

johnboy 18 June 2011 31

ngunnawal map

The Economic Development Directorate has triumphantly announced that they’ve flogged off 35 hectares of Ngunnawal for $36.25 million.

Spirited bidding by 11 registered parties representing both local and interstate companies has seen a 35.14ha site in Ngunnawal sell for $36.25 million.

The site is 18 kilometres from the CBD and only four kilometres from the Gungahlin Town Centre. It also provides good access to local schools and shopping facilities.

The auction conducted by Colliers International on behalf of the Land Development Agency will see the development of approximately 475 dwellings.

The winning bid came from Canberra Estate Consortium No 30, a subsidiary of local home building firm The Village Building Company, who had to fight off stiff competition from interstate consortiums that were also keen to secure the site.

“I am delighted that the Village Building Company was successful in purchasing this land,” said David Dawes, the Director General of the Economic Development Directorate.

“For a number of years now Village has specialised in providing homes at the affordable end of the market and their purchase of this land will mean that more Canberra families will be able to make their dream of homeownership a reality.

The development will be completed within three years and will feature a wide range of options for home buyers including townhouses, villas, duplexes, free standing homes and larger residential lots.

As part of this development Bob Winnel, the Village Chief Executive, has already committed to provide 122 two bedroom homes priced at around $335,000 and a further 102 three bedroom house and land packages that will be priced from $365,000 to $400,000.

In the next few months Village will also offer 131 blocks to the market. The blocks will range in size from 420sqm to 900sqm and will be priced from $220,000 to $355,000.

The estate will feature solar hot water to every home, and all landscaping will feature low water usage native plants.

All waste building materials from the site will also be recycled.


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31 Responses to Village Building Company goes over the odds to win Gungahlin dogfight
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Gungahlin Al Gungahlin Al 12:57 pm 20 Jun 11

aidan said :

Is the Throsby spider-web someone’s idea of a joke?

LOL.
Someone at Google having a laugh, combined in with their usual embed-false-roads-so-we-can-detect-anyone-copying-our-content trick?
Very Griffin-esque.

Gungahlin Al Gungahlin Al 12:47 pm 20 Jun 11

time_killer said :

Gungahlin Al said :

Do you have a link to a map of what Gungahlin is proposed to eventually look like?

Here’s the old version of the Moncrieff Concept Plan – you can see where Mirrabei bends north. The other southern entrance that guts the trees that NCDC planted up the hill now isn’t going to go ahead. Yay – a win.

Sorry Al, but I cant see anything?

D’oh. http://www.legislation.act.gov.au/ni/2008-27/copy/61205/pdf/2008-27.pdf

The Frots The Frots 12:37 pm 20 Jun 11

aidan said :

Is the Throsby spider-web someone’s idea of a joke?

LOL – just noticed it. It has to be a joke…………………………yes? Perhaps it’s Stanhope’s parting gesture. A few more roads in there and you will be able to see it from the Shuttle!

aidan aidan 12:18 pm 20 Jun 11

Is the Throsby spider-web someone’s idea of a joke?

time_killer time_killer 12:17 pm 20 Jun 11

Gungahlin Al said :

Do you have a link to a map of what Gungahlin is proposed to eventually look like?

Here’s the old version of the Moncrieff Concept Plan – you can see where Mirrabei bends north. The other southern entrance that guts the trees that NCDC planted up the hill now isn’t going to go ahead. Yay – a win.

Sorry Al, but I cant see anything?

Gungahlin Al Gungahlin Al 12:08 pm 20 Jun 11

time_killer said :

Gungahlin Al said :

time_killer said :

Damn…. I take my dog for a bit of a run in that paddock!

Hopefully the first thing they do is extend Mirrabei Drive to Horse park so that there isnt even more traffic flying down jabnungga avenue. Though, considering the way the rest on Gungahlin has been planned they’ll wait until all 400+ blocks are occupied before they start work on that!

Bad news on that I’m sorry to say. Mirrabei will take a hard right to join HPD up at the Moncrieff group centre. The logical extension of Mirrabei west to HPD will be preserved as a green corridor only.

I took issue with this at a recent meeting with LAPS/LDA given the (I thought) obvious impact it will cause on rat-running through Burramurra. It will take more than us complaining about it though – the residents there will have to own the issue too.

Well that is disappointing, but hardly surprising!
Extending Burramurra into the new area but leaving Mirrabei where it is, is too stupid for words.

Do you have a link to a map of what Gungahlin is proposed to eventually look like?

Here’s the old version of the Moncrieff Concept Plan – you can see where Mirrabei bends north. The other southern entrance that guts the trees that NCDC planted up the hill now isn’t going to go ahead. Yay – a win.

Watson Watson 11:47 am 20 Jun 11

Chop71 said :

No developer ever “goes over odds”. They just pay the market price at auction and then pass on the costs to the end consumer, who may then “go over the odds” for many many years.

Enjoy living in your overpriced dog boxes with no backyards.

Don’t rub it in! I have no choice!

Chop71 Chop71 11:17 am 20 Jun 11

No developer ever “goes over odds”. They just pay the market price at auction and then pass on the costs to the end consumer, who may then “go over the odds” for many many years.

Enjoy living in your overpriced dog boxes with no backyards.

time_killer time_killer 9:56 am 20 Jun 11

Gungahlin Al said :

time_killer said :

Damn…. I take my dog for a bit of a run in that paddock!

Hopefully the first thing they do is extend Mirrabei Drive to Horse park so that there isnt even more traffic flying down jabnungga avenue. Though, considering the way the rest on Gungahlin has been planned they’ll wait until all 400+ blocks are occupied before they start work on that!

Bad news on that I’m sorry to say. Mirrabei will take a hard right to join HPD up at the Moncrieff group centre. The logical extension of Mirrabei west to HPD will be preserved as a green corridor only.

I took issue with this at a recent meeting with LAPS/LDA given the (I thought) obvious impact it will cause on rat-running through Burramurra. It will take more than us complaining about it though – the residents there will have to own the issue too.

Well that is disappointing, but hardly surprising!
Extending Burramurra into the new area but leaving Mirrabei where it is, is too stupid for words.

Do you have a link to a map of what Gungahlin is proposed to eventually look like?

OzChick OzChick 9:30 am 20 Jun 11

If you want to see an example of VBC’s work, check out West Macgregor. They built pretty much the whole estate out there. The (current) AHL packages out there were definitely around 200m2 or less. The choice of plans included shared toilet/bathroom with the shower/bathtub, laundry is in the garage (not laundry room) and this is a 3 bedroom house!!

Gungahlin Al Gungahlin Al 9:28 am 20 Jun 11

time_killer said :

Damn…. I take my dog for a bit of a run in that paddock!

Hopefully the first thing they do is extend Mirrabei Drive to Horse park so that there isnt even more traffic flying down jabnungga avenue. Though, considering the way the rest on Gungahlin has been planned they’ll wait until all 400+ blocks are occupied before they start work on that!

Bad news on that I’m sorry to say. Mirrabei will take a hard right to join HPD up at the Moncrieff group centre. The logical extension of Mirrabei west to HPD will be preserved as a green corridor only.

I took issue with this at a recent meeting with LAPS/LDA given the (I thought) obvious impact it will cause on rat-running through Burramurra. It will take more than us complaining about it though – the residents there will have to own the issue too.

time_killer time_killer 9:09 am 20 Jun 11

Damn…. I take my dog for a bit of a run in that paddock!

Hopefully the first thing they do is extend Mirrabei Drive to Horse park so that there isnt even more traffic flying down jabnungga avenue. Though, considering the way the rest on Gungahlin has been planned they’ll wait until all 400+ blocks are occupied before they start work on that!

Watson Watson 7:54 am 20 Jun 11

Just read that part of the Casey concept plan. The “big” shopping centre will be to the South of the suburb and there will be a little one (ie. local shops) in the Northern part.

Watson Watson 7:46 am 20 Jun 11

TP 3000 said :

What isn’t mentioned in the press release is that the Casey Group Centre will be located directly opposite to top left corner of the yellow in the picture above.

While not much has been released about the Casey Group Centre, I am led to believe it will be similar to Weston/Erindale/Jamison & include an extension of the ACTION Intertown (now Rapid) network.

Surely that should be the bottom left corner?

I’m one of the poor sods who will become neighbours of the village. I’m buying a cardboard box in Casey, because it’s the only thing I can afford. So I’ll be following the development with some interest and hope it won’t turn into a typical Gungahlin slum. Casey’s not too bad. They’ve left some trees and are planting street trees at least.

dpm dpm 7:16 am 20 Jun 11

TP 3000 said :

What isn’t mentioned in the press release is that the Casey Group Centre will be located directly opposite to top left corner of the yellow in the picture above.

While not much has been released about the Casey Group Centre, I am led to believe it will be similar to Weston/Erindale/Jamison & include an extension of the ACTION Intertown (now Rapid) network.

Sorry to move away from the original topic, but ‘rapid’ buses to/from Weston/Erindale/Jamison sounds positive! When is this planned? I did a quick search on the ACTION site and found nothing about it?

Skidbladnir Skidbladnir 11:27 pm 19 Jun 11

TP 3000 said :

What isn’t mentioned in the press release is that the Casey Group Centre will be located directly opposite to top left corner of the yellow in the picture above.

Not according to the Casey Concept Plan, see pages 35/36.

The Casey Group Centre is going on the corner of Horse Park & Clarrie Hermes Drives (ie: big empty space lower left of picture), with the Casey Local Centre going upper left where you’ve identified.

TP 3000 TP 3000 8:30 pm 19 Jun 11

What isn’t mentioned in the press release is that the Casey Group Centre will be located directly opposite to top left corner of the yellow in the picture above.

While not much has been released about the Casey Group Centre, I am led to believe it will be similar to Weston/Erindale/Jamison & include an extension of the ACTION Intertown (now Rapid) network.

arescarti42 arescarti42 1:05 pm 19 Jun 11

wooster said :

Due to the erosion of the ability of state and territory gov’ts to raise revenue through a century or so of reinterpretation of the Constitution has meant that gov’ts are more and more dependent on rates, stamp duty on transfers, etc, related to land sales.
Constrict supply, and you artificially raise UVs.

This is actually key to the affordability problem. State governments are very much reliant on stamp duty etc. as a source of revenue. As the monopoly supplier of greenfield land, the ACT government can maximise revenue from sales by limiting supply and jacking up prices.

The developers are doing very nicely as well, 475 dwellings on $36.25 million worth of land is $76,000 per block of land (on average), which they are going to sell for $220-$355k a piece. I can tell you it doesn’t cost $144k-$279k to develop the infrastructure for each block of land.

Watson Watson 11:38 am 19 Jun 11

wooster said :

2 bedroom house, probably on a block around 500m2, for $335?

You’ve got to be kidding me if that’s affordable housing.
Certainly agree with Grumpy Old Fart, to an extent, but proffer a different view:
Due to the erosion of the ability of state and territory gov’ts to raise revenue through a century or so of reinterpretation of the Constitution has meant that gov’ts are more and more dependent on rates, stamp duty on transfers, etc, related to land sales.
Constrict supply, and you artificially raise UVs. Revenues are tied (largely) to UVs.
Add to that a population thats heavily invested in the current scheme (of needless housing restriction), and you won’t actually get any meaningful change via elections.
Canberra is by no means short of land. To argue otherwise is, frankly, ridiculous by intl standards.
Sadly, the only solution is to see a correction by broader changes in the market.
I for one, wont be sad to see the demise of the generation of ‘ self-anointed ‘property investors’ who’ve realised extraordinary returns, and as yet, have not seen the corollary falls that history teaches us will come again. Though perhaps sooner than many think.
Zeitgeist is a hell of a thing…

Forget the 500m2 block! The ones at Bonner are on average less than 150m2! They sell them for $83,000 and the house + land package costs you $307,000.

As for the property investors… If house/land prices plummet, they might have sell their second 4WD, but the ones that will be really farked will be those who are paying their whole monthly income on a stupendous mortgage on one of those glorified cardboard boxes.

Antagonist Antagonist 11:30 am 19 Jun 11

Lego Land V2.0.

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