- Stockland enters the innovative housing sector, selling out its Garden House pilot series
- Joint venture between Stockland and the WA Department of Communities
- High demand has brought forward construction of the Green House pilot series
Although Stockland’s half-yearly results were found to be a mixed bag – with statutory profit down 30% – the ASX listed property developer has enjoyed higher rent collections and an increase in funds from operations.
They recently invested $2.5 million into ‘Data-as-a-Service’ (DaaS) provider smrtr, announced a collaboration with design company Empire to build a residential development in Perth’s CBD, and committed to an ambitious target of net-zero carbon emissions by 2028.
Now, the company has made strides in the innovative housing sector, proving it to be extremely popular with WA buyers – officially selling out its Garden House pilot series earlier this week.
The Garden House pilot series is a part of the Sienna Wood community, comprised of almost 40% parks and conservation areas. Set to become one of Australia’s most innovative and sustainable urban developments, it is part of a joint venture between Stockland and the Western Australian Department of Communities.
The development features seven two-storey terrace dwellings, designed to provide a greater choice of housing options in Perth, at a record low price point starting from $267,000.
Col Dutton, Stockland WA General Manager, said the response from WA buyers is evidence of the demand for lower-priced housing options.
“The Sienna Wood Garden House pilot offered quality, affordable housing within a safe, thriving community located in Perth’s southeast growth corridor.
“With State and Federal Government building grants made available to buyers, this pilot affordable series provided an opportunity for more residents to achieve the Australian dream of owning their own home.”
Col Dutton, Stockland WA General Manager
Due to such high demand, WA builder, Inspired Homes will now begin construction on the Garden House series, using timber frame structures that are prefabricated off-site locally as the foundation for the dwellings.
With the time for estimated completion brought forward, some buyers are expected to be in their new homes in time for Christmas this year.