There was a great deal of interest in lots released in the new Sapphire Cove development at Bermagui with several sold on the weekend.
The opening of Sapphire Cove was held on the weekend by the Mundurrah company that purchased the 24-acre parcel of land from the Bermagui Country Club.
Chief executive officer Michael Lowry said his company had approval to build up to 400 dwellings on the land in two stages, with 18 lots being released in Stage 1 ranging between 550 and 700 square metres, some suitable for dual occupancy such as semi-detached townhouses.
Stage 2 would see a further 60 lots released, with both stages running along Parbery Avenue and Nutleys Creek Road behind the Bermagui Country Club golf course.
The first stage already has development approval and lots sold would be ready for settlement in July 2018. The second stage settlement was expected to be one year away.
Mundarrah is an associated entity of Sydney development company Pelican Properties. Mr Lowry has 40 years experience with land subdivisions, strata conversions of residential buildings, as well as building new residential developments.
Mr Lowry was in Bermagui over the weekend and said he was was excited to have the opportunity to release the Sapphire Cove land subdivision to the public.