Varsity Lakes has continued its award winning reputation as one of Australia’s best communities in its 10th year with almost $300 million in infrastructure and commercial investments planned or under development.
Celebrating its 10th anniversary in 2009, the masterplanned community now boasts 8,000 residents, 7,000 students and 500 businesses with more than 5,000 employees.
Varsity Lakes Senior Project Director Carl Bruhn said the Varsity Lakes’ economy, currently placed at over $600 million, is likely to surpass $1.5 billion on completion, resulting in a significant ongoing contribution to the regional economy.
“The consistent quality of Varsity Lakes has been ensured through benchmarking, covenants, stakeholder relationships and community connections,” Mr Bruhn said.
Town centre Varsity Central has seen the completion of one of the Gold Coast’s first ‘green’ buildings Aspect, a three-level commercial office building in the heart of Varsity Central.
Aspect is the fourth commercial building developed by Delfin Lend Lease in Varsity Lakes and has achieved a 4 Star Green Star – Office Design v2 Certified Rating which represents ‘best practice’ in environmentally sustainable design.
Anchored by the nearby Bond University, Varsity Central has already attracted a range of business leaders including IBM, Minter Ellison, gotalk, AON Insurance, Gold Coast City Council Engineering Services Division and last year welcomed Telstra.
Within the heart of Varsity Central, Market Square boasts more than 40 restaurants and retailers.
A ‘one-stop-shop’ for residents and locals for fashion, gift and beauty boutiques, Market Square features handy convenience retail stores and an array of culinary options ranging from fine dining to cafes and takeaway options.
It has also been a time of growth in the residential sector with research showing the average capital growth rate per annum for houses has been 9.5% and units 9% since the projects’ commencement in 1999.
Varsity Lakes’ award winning waterfront village The Landing is now 95% sold out and has been the launch pad for four new styles of homes designed and developed by Delfin: the Loft, SOHO, Studio and Lakefront Terrace.
Following the success of The Landing, Delfin Lend Lease launched two stages within the $100 million mixed use waterfront village, South Bay, located on the southern shores of Lake Orr.
Achieving a 100 per cent sell out in the first three phases of release, South Bay represents the last waterfront village to be released by Delfin at Varsity Lakes.
South Bay is home to the proposed retail and dining village centre, waterfront apartments and residential options in land and home and land packages.
Varsity Lakes also continues to cement its position as one of the country’s healthiest communities with more than 15,000 people a year forecast to participate in its sport and recreation program by the project’s completion.
The program sees more than 11,000 participants a year since the appointment of a dedicated Sport and Recreation Manager four years ago - the first of its kind for a masterplanned community.
Currently celebrating its 10th anniversary, Varsity Lakes will comprise 4,500 homes upon projected completion in 2011 and up to 100,000-square metres of commercial space in town centre Varsity Central. It will become home to more than 10,000 residents and more than 6,000 employees.
Varsity Lakes is being developed by Delfin Lend Lease, Australia’s largest developer of master planned communities, with 24 projects nationally.
ENDS
For further information, interviews or images:
Frances Kinman / Ashleigh Stallard – BBS 07 3221 6711
Abbey Trueman, Marketing Services Manager, Delfin Lend Lease – 5501 8254 / 0409 471 457