Clearstate backs north-west Sydney growth with latest Box Hill acquisition

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Clearstate has reaffirmed its commitment to Sydney’s north-west growth corridor, with the $6.78 million acquisition of a new land estate on Box Road, Box Hill, following unconditional exchange with two different landholders on the 1.7-hectare (4.2 acre) parcel of land.

The estate is expected to yield a housing development of up to 30 detached dwelling lots of between 300sqm and 500sqm, with a sales release slated for November 2020.

The new land parcel is situated only 200 metres from Clearstate’s recently-completed Candlebark project, three kilometres from the Rouse Hill Town Centre and 42 kilometres north-west of the Sydney CBD in The Hills Shire local government area.

According to General Manager, Steve Barlow, the new Box Hill acquisition further strengthens Clearstate’s commitment to north-west Sydney.

“This new project consolidates our position in north-west Sydney and builds upon our experience in the area,” said Mr Barlow.

“Our founder Dean Willemsen was born and bred just up the road in Galston, so we are genuine about our commitment to this region, which offers a fantastic mix of amenity and affordability.

“That’s why we are now in discussions with other landholders in the area to investigate further ways in which we can expand our offering.”

Established in 2011, Clearstate has so far developed 12 projects across north-west Sydney, including the aforementioned Candlebark project in Box Hill, as well as sites at Garfield Road Riverstone, Alex Avenue Schofields, and Tallawong Road Rouse Hill.

In total, Clearstate’s projects have contributed over 350 lots to the housing supply in north-west Sydney.

Mr Barlow says the region is perfect for first home buyers and downsizers, with the former group becoming increasingly active in the property market again.

“We’re definitely seeing some strong green shoot activity from first home buyers, who are making up the bulk of our enquiries and sales at present,” he confirmed.

“We believe these buyers are seeking developers with a strong track record and land lots close to amenity – which our north-west Sydney projects all provide, thanks to the growth in the region’s infrastructure over the last decade.

“Overall, the outlook for the north-west is exceedingly positive, with growing employment opportunities, transport options, health infrastructure and migration all reinforcing the future prospects for land and home owners in the region.”

“We strongly believe in the continued strength of the Sydney property market, and the recent buyer activity we’ve seen certainly reinforces this,” he said.

“It’s worth noting that over the longer term, property and land values continue to grow, and despite the downturn in sales volume over the past two months, Sydney’s market fundamentals haven’t changed.”

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