$90m club born
by Lisa Tisdell
Posted on 20 April 2011
A DEVELOPMENT catering to our booming population is expected to return $90 million in gross sales.
The Ocean Club at Lake Cathie will feature 260 manufactured houses built on concrete slabs and a ready-made community atmosphere with a pool, bowling green, tennis courts and clubhouse.
Early feedback about the development is promising.
Settlement First National real estate agent Mary Catterall has taken more than 12 serious inquiries from people interested in the Ocean Dr "lifestyle resort" for those aged older than 50.
Two Sydney companies -- Huntingdale Properties and the Gwynvill Group -- are behind the project.
Huntingdale Properties principal John Gilmour said they wanted to keep the project as "local an operation as possible".
Long-established Port Macquarie business J Newton Construction is responsible for the earthworks, roads and sewer work.
Workers demolished two farmhouses and started preparations at the 21ha site in January.
Consultants King and Campbell and architect Craig Teasdell also have worked on the project.
Huntingdale Properties and the Gwynvill Group have approved, or have under construction, 625 houses, over-50s accommodation and blocks over three projects in the area.
"We have made a strategic decision to stay in the Hastings and we are looking forward to growing our business here," Mr Gilmour said.
He said it was encouraging to have so many residents already making inquiries for The Ocean Club.
"We are hoping some people may start making preparations to sell their homes so they can be among the first group of residents that could move here in mid 2012," Mr Gimour said.
Major earthworks will start after Easter, subject to the weather. The Ocean Club has been five years in the making. Meanwhile, the two Sydney companies also have the go ahead for a $9.3m Wauchope development aimed at the treechange market.
Printed: Port Macquarie News Wednesday, April 20, 2011 - PDF Copy