CONSTRUCTION of a major new housing development in Foster, to be known as ‘Parkside Estate’, is due to commence within weeks, providing a huge economic boost to Foster and the surrounding district. Consisting of 59 flat and fully serviced allotments, the estate will provide an economic value to Foster estimated to be in the vicinity of $25 million.
In making the announcement, Steve Paragreen, from Paragreen Real Estate in Foster, said the new development would give Foster a major economic boost and heralds a new era with a major, high quality housing estate for the town.
“This new, well-located estate will be state-of-the art, and I am sure the new housing allotments will be eagerly sought,” Mr Paragreen said.
Parkside Estate will be located on Station Road, on the land, currently vacant, between Foster’s medical precinct and the highly popular Great Southern Rail Trail. “Foster’s Catholic Church is directly opposite the site, as is the well-supported Men’s Shed, which will appeal to retired males in particular,” Mr Paragreen said.
The estate will have 59 premium housing allotments, ranging in size from 416 to 923 square metres. Eleven lots will be in O’Connell Road, directly opposite Prom Country Aged Care and the medical precinct. This, said Mr Paragreen, would be highly attractive to retirees seeking to be near amenities and care in the future.
He emphasised that block sizes had been designed to allow for comfortable homes with small yards.
“Many retirees do not want huge block sizes or large gardens, and these blocks, directly opposite the nursing home and a short walk to facilities such as the hospital and golf course, will be ideal ranging from 416 to 503 square metres,” Mr Paragreen said.
Thirteen blocks will face Station Road and range in size from 427 up to 635 square metres. Eight premium blocks will back onto the rail trail and range in size from 750 to 923 square metres.
Fifteen blocks will face into a quiet court and many will face a landscaped reserve and will range in size from 418 up to 824 square metres.
Mr Paragreen said he believed Parkside Estate in Foster would become the town’s premier housing estate. “It will rival in quality anything in the region and have full service provision including fully paved roads and internal pathways which will connect directly to the rail trail.”
“The fact that residents will be able to leave their home and directly access the adjoining rail trail will be highly attractive to many purchasers,” he said. “Be they retirees, singles or people with young families, to have the rail trail right next to their estate and directly accessible will be highly attractive to many people.”
The quality of the estate will also attract many buyers. It will offer all services, including bitumen roads, concrete footpaths and vehicle crossings, along with kerb and channel and underground drainage. All allotments will have sewer and mains water available, internal underground power, NBN cabling and street lighting throughout the estate. There will also be extensive planting in the adjoining council reserve and feature trees on the nature strips.
“With blocks starting from $100,000 and the average block price being $124,000, this is an attractive and very affordable estate with prices to suit all budgets,” Mr Paragreen said. Another attractive benefit for purchasers will be a long settlement period of around twelve months. Early buyers will only have to pay a deposit and settle in approximately 12 months’ time.
“Paragreen Real Estate are delighted to have been appointed as the sole agents for this premium estate,” Mr Paragreen said.
“There is no doubt, Parkside Estate, Foster, will be attractive to many people. These include retirees, singles, family and first home buyers, and I would strongly advise interested parties to get in early to choose their ideal new home or unit site.”
Mr Paragreen said local builders have already shown interest, and some will be prepared to offer great deals to early buyers.
“This development offers wonderful options, and our firm is keen to assist people realise their dream with the provision of a fantastic new home or unit. Working with local builders, we can offer a fantastic house and land package at a most attractive price.”
Keeping the emphasis on the local, South Gippsland firms will undertake almost the entire development.
The major contractor will be Leongatha firm South Gippsland Quarries. Company owner Rob Knox said his firm is delighted to have been chosen to be the main contractor, and he anticipates commencing work at the end of February.
“All being well, we expect to have stages one and two completed this calendar year which will finish all blocks fronting Station and O’Connell roads as well as the internal court. Subject to weather, we should have two thirds of the estate completed this year,” Mr Knox said.
People wishing to make enquiries should contact Paragreen Real Estate, 17 Main Street, Foster on (03) 56 822 100.
“For the pick of the blocks, I strongly recommend people get in early and speak to one of our sales consultants, and we will be happy to assist with any enquiries,” Mr Paragreen said.