News

VILLA WORLD BUILDS ON BAYSIDE SUCCESS

June 17, 2015 | IN Media Release and News | BY AVID | 3 min read

DEVELOPER Villa World is laying plans for the launch of two new communities in Brisbane’s bayside to replenish stock in one of its best-selling markets.

Ellabay at Redland Bay and Affinity Thornlands will be released within months following the sell-out of the 101-lot East Ridge estate at Thornlands and strong sales at its Waterline, Era and Mount Cotton communities.

Together they will add a combined 170 lots to Villa World’s bayside workbook, where the company recorded 199 sales in the third quarter of the 2015 financial year (3Q15).

The addition of new bayside projects is part Villa World’s ‘step-change’ in delivery capability across its national portfolio, where monthly sales have increased from 44.7 in 1Q15 to 82 in 3Q15.

Villa World managing director Craig Treasure said transactions in the bayside region accounted for a third of Villa World’s sales nationally in 3Q15.

“We’ve made great sales traction in the Redlands and it is our intention to bolster our local workbook to build on this success,” he said.

“It is a strong market that is favoured by families for its location and lifestyle attributes and this is reflected in robust sales across our bayside projects.”

In April, Villa World acquired an 8.79-hectare parcel on Weinam Street in Redland Bay for $16.5 million which will ultimately comprise more than 200 lots. The project will contribute to revenue from FY17.

In an elevated location just 1.5km from Victoria Point shopping centre, Affinity Thornlands will comprise 86 land-only lots up to 697sqm in size.

Waterside community Ellabay will include 84 completed, designer homes just over one kilometre from the shores of Moreton Bay.

Property researcher Matthew Gross, of National Property Research co., recently released findings which support Villa World’s growth strategy in Brisbane’s bayside.
According to Mr Gross, the region’s population is flourishing and is expected to rise 38 per cent to almost 200,000 people by 2036, requiring a further 20,200 homes to be built.
Gross’s report also revealed that strong local employment opportunities in the region contributed to its unemployment rate of just 4.5 per cent, comparing favourably to Brisbane on 5.2 per cent and Queensland at 6.5 per cent.

Additionally, the Redland City Plan is expected to be implemented late in 2015 and will focus on housing, the local economy, safety, the environment and infrastructure, and will clearly define how the region will take advantage of economic growth opportunities in the future.
Since its $31.7 million capital raising in January, Villa World has announced the acquisition of 292 lots worth $27.0 million, bringing total restocking in FY15 to 2701 lots worth $130.6 million.

New projects in the Villa World portfolio released over the last six months are selling at or above forecast – making up 214 of the company’s 598 sales in the financial year to date.

The increased development portfolio and strong market conditions support a lifted sales target of between 1000 and 1200 lots per annum in FY16.

Villa World has a market capitalisation of around $230 million and was included in the ASX300 index in its March re-weighting.

Established in 1986, Villa World is Queensland’s oldest ASX-listed developer and one of Australia’s largest housing providers.

Visit villaworld.com.au/bayside for more information.

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