Murray Bridge’s new $45m housing estate to deliver 118 new homes
More than 100 homes will be built in a new housing development in Murray Bridge. There is high demand for housing in the area, with a string of major developments in the pipeline.
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More than 100 homes will be built in Murray Bridge with the launch of a new $45m housing estate.
The project, between Hindmarsh and Old Swanport roads, is being led by local Adelaide developer Oceanic Properties and Investment Group, and will consist of 118 lots on 9ha of vacant land near the southern edge of the town.
The first two stages of the five-stage project, known as Hindmarsh Estate, have been released to the market, including close to the half of the estate’s total number of blocks.
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Pricing starts at $104,500, with early civil construction works recently getting under way.
Oceanic Properties director Viv Chauhan said the affordability would appeal to first homeowners, while families would be attracted to the larger block sizes in the estate, which range from about 500 sqm to 770 sqm.
“We are injecting $45m during the development and construction phase and creating more than 200 jobs during construction,” he said.
“This is great news for regional South Australia and particularly Murray Bridge.
“The housing requirement in Murray Bridge is very big – the town needs 200 houses a year minimum for the next five to seven years.”
Mr Chauhan said a new $300m abattoir for Thomas Foods, the planned multimillion-dollar expansion of Monarto Zoo and several other developments in the region were driving growth and demand for housing, with 10 per cent of the first stage lots already sold.
Burke Urban is overseeing the Murray Bridge’s largest housing project, recently releasing the second stage of its $50m, 350-home Newbridge estate on the site of the former Murray Bridge Racing Club next to the Murray Bridge Golf Club.
Raine & Horne Murraylands principal John DeMichele, who’s heading up the sales campaign, said the region was attracting interest from both local and interstate homeowners and investors.
“As Murray Bridge is growing, we’ve got so much to offer as a township – the schools, the health, the shopping,” he said.
“It’s turning into a city. We’re getting interest both from local and interstate. Murray Bridge is really short of accommodation and this will go a great way in sorting out some of the rental problems in Murray Bridge.
“The individual allotments are priced to suit young families, couples, first home buyers and even the savvy investor as they are the best value for money allotments currently in Murray Bridge.”
Mr Chauhan runs local sportswear supplier Viva Global, while his business partner, Saranjeet Singh is a home builder who has completed several developments in Adelaide and Sydney.
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