Million-dollar properties are on the horizon for Sunshine North’s River Valley estate after developers released premium lots with uninterrupted river and valley views.
The Riverina release includes eight lots along Riverbend Way, with blocks starting at $495,000 for a 901-square-metre block and jumping to $590,000 for a corner block of 1147 square metres.
YourLand Developments director Mark Erskine said each block offered purchasers the chance to custom-design their dream home.
“[The estate] has been designed so that there are no properties in front … so views will remain uninterrupted,” Mr Erskine said.
The properties are predicted to command a million-dollar price tag if sold on in future. That would more than double Sunshine North’s median house price of $460,000.
Home buyers keen to secure a Riverina address without designing and building their own home also have the option to buy one of five architect-designed house-and-land packages on smaller allotments along Rice Flower Road.
Mr Erskine said YourLand, which took over the River Valley estate in October 2013, had spent the past year landscaping existing stages and plotting the next stages for release.
Spanning 130 hectares, nine kilometres from the city, Riverina is one of the largest infill developments in Melbourne.
Mr Erskine said the estate was fast gaining a reputation for unique properties on large blocks and had predominantly attracted home buyers who had built double and triple- storey properties.
YourLand will also launch building company River Valley Homes in the next month. The company will design and build properties in the estate, with the sloping land in mind.
“There are lots of opportunities here,” Mr Erskine said. “It takes a bit of foresight and vision.”
River Valley project manager Heidi Wilson said there was significant interest in Riverina from inner Melbourne residents keen to live on a big block while still close to the city.
