Gabriel’s Run release sold out at The Hermitage with a total of $150 million in sales

Gabriel’s Run release sold out at The Hermitage with a total of $150 million in sales
Gabriel’s Run release sold out at The Hermitage with a total of $150 million in sales

The remainder of the 200-lot Gabriel’s Run release at the Hermitage community development in Sydney’s south west have now been sold. The sale of the final 37 lots at Gabriel’s Run marks a total of $150 million in sales for the development.

The Hermitage is to be the first Australian masterplanned community by Japanese developer and builder Sekisui House. Located in Gledswood Hills, the development is being marketed towards young families and first home buyers, with its open green spaces offered as a major drawcard.

According to Craig Barnes, estate sales and customer relations manager at The Hermitage, word of mouth has been a big driver in demand for the estate.

“More than 60% of sales are from referrals, which is certainly impressive,” Barnes said.

“The demand for land at the Hermitage has been so strong with previous releases that people had been camping outside the sales office for days. To avoid this, we asked people to first register interest and then offered them priority numbers and a personalised approach, making the weekend a lot smoother but still completely – if not more – fair.”

Buyers from the development’s Chilsolm’s Corner and Hardy’s Rise releases have now moved in. Lots in the development have averaged $275,000.

Lots in the Gabriel’s Rise release ranged from 400 square metres to 625 square metres, and were priced from $243,000.

When completed, the Hermitage will be a 312 hectare community which will include a 10 kilometre cycling path and the regenerated South Creek. The development will also include a “hilltop village”, with boutique shops, cafes, restaurants and community facilities.

The Hermitage's next release will be a new precinct, planned for Easter. 

jrichardson@propertyobserver.com.au

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