The exclusive sales launch of release two of the Epiq Lennox Head community attracted twice as many prospective buyers as there were homesites, leading to a $23.5 million sell out in just one night.
Developer Clarence Property counted 116 registered buyers at the invitation-only launch event, which saw 66 homesites go under contract following a ballot draw to ensure all attendees had a fair chance to secure a lot.
Prospective purchasers’ names were drawn from a barrel, with those selected given the opportunity to choose their preferred homesite, with prices ranging from $245,000 to $355,000.
The ballot was drawn by Elder Real Estate agent Michael King, who is marketing Epiq Lennox Head and says he is not surprised by the level of demand.
He says release one of Epiq Lennox Head was similarly successful, with the immediate sellout of all 51 homesites on offer for a total of $11 million.
“Most of the people who missed out on the ballot draw are on a waiting list and many have pre-registered for release three, which is already in the pipeline as the developer tries to keep pace with demand,” Mr King said.
“There’s a good mix of purchasers buying into the Epiq community, including first time buyers, families, mature couples and retirees. The majority are locals who already live in the Lennox or Ballina region, although there is increasing enquiry from further south and across the Queensland border.”
Mr King says Epiq has hit the mark with locals because it builds on all of the town’s best characteristics.
“Epiq is being built on an elevated site which is surrounded by hectares of protected bushland and nature corridors, so it is a beautifully green and vibrant place just a short drive from the beach – which is a big part of the Lennox Head identity,” he said.
“Epiq is also very community focussed, with new sporting fields already under construction and due for completion later this year, so the development will become a new place for locals to keep active, healthy, and socialise.
“A new shopping precinct planned for the centre of the development will add value to the project because convenience and proximity to amenities always rank highly on purchasers’ wish lists. Epiq is also close to the existing Lennox Head village centre which is home to a range of boutique stores and cafes.”
“Epiq will enhance the relaxed, coastal village lifestyle Lennox Head is renowned for and enrich the area with new facilities for the next generation of locals who want to live, work, and play here.”