29 August 2017
AVID Property Group has strengthened its foothold in the Lower Hunter Valley region with the acquisition of the remaining 750 residential lots at Waterford County, as part of an established masterplanned community in Chisholm, New South Wales.
AVID Property Group CEO Cameron Holt said the acquisition forms part of AVID’s growth strategy in New South Wales and supports the national goal to triple the company’s value over the next five years.
“We are no stranger to the region, with our development, Harvest, located just next door and benefitting from much of the same infrastructure investment we have made in the region,” Mr Holt said.
“The Lower Hunter is increasingly becoming an affordable alternative to the Sydney housing market with many buyers moving out of Sydney in favour of regional New South Wales.
“Harvest and Waterford County are poised to meet demand for the booming population of nearby Newcastle, which is undergoing a $500 million revitalisation.
“This will create more job opportunities over the next decade, improved transport services and increase the need for housing in the region.
“The second half of 2016 saw a 40 per cent rise in sales at Harvest, showing a firm demand for property in the area.
“The opportunity to expand our market share sets AVID up strongly within the high-performing region, forecast to be home to more than 26,000 additional residents by 2036,” he said.
With an established primary school, childcare Centre and a new high school currently under construction and set to open in 2018 and a future town centre proposed in the area, AVID hopes to complete the balance of the masterplan over the next five years.
FREQUENTLY ASKED QUESTIONS
What is happening to the Village Centre? Will this be completed by AVID?
The subject of the commercial centre was not offered as part of the recent sale to AVID Property Group. It remains in the ownership of the former Waterford County developer, Maitland Nominees Pty Limited. While we understand plans are being progressed with Maitland City Council for its development, all enquiries need to be directed to http://chisholmplaza.com.au/
Will the road connection (Harvest Blvd & Dragonfly Drive) eventually open to connect Harvest & Waterford County?
We understand that the previous owner may have made representations to Waterford residents regarding the road however these representations may not have been consistent with the established planning controls for the land.
We are informed by Maitland City Council that planning for the road access via Harvest Boulevard and Dragonfly Drive is part of the DCP (Development Control Plan). The Council’s adopted precinct plan for the Thornton North Release Area is available on the Council website.
When is the next land release at Waterford County?
AVID is currently preparing a development application for the land between the Harvest estate and Waterford County estates. Following receipt of the relevant approvals a sales release of this land is targeted for early 2018.