Boom time for sales at subdivision

20:24, Dec 10 2013
Faringdon
NEW HOMES: Construction underway at the Faringdon subdivision.

Almost a section a day is selling at the Faringdon subdivision in Rolleston.

The large subdivision was launched 16 months ago on an 80-hectare site on the east side of the fast-growing town. It will eventually have 1050 sections and about 4000 residents.

The developers are Hughes Developments, who were behind the Northwood subdivision on the northern outskirts of Christchurch. Marketing director Bruce Harvey said they were "clearly ahead" of their forecast of taking 10 to 15 years to sell all sections.

To date, 420 sites for a total of $70 million, at a rate of 26 a month have sold. With the 122-lot stage three nearly finished, sections for stage nine are now for sale.

"All stages have sold out prior to the completion," Harvey says.

"We're producing one new title every day, which is helping drive the pace of the development.

Title delivery is frequently earlier than forecast, unlike many other projects."

Other recent subdivisions at Rolleston include: Stonebrook, Millgate, Mayfair, Park Lane Estates, Levi Park, Allingham Mews, Flyndon Grove, and Newman Park.

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