River Cove relaunches Leopold’s popular Estuary estate
Leopold’s popular Estuary community will be expanded by developer Villawood Properties in a new 225-lot development and a new precinct, River Cove.
Located east of the existing Estuary off Ash Road, River Cove hit the market on 5 September with full online consult, inspect and purchase facilities available.
Villawood is the only developer in Geelong with a full online purchasing system service.
The first stage of 26 blocks is expected to be swiftly subscribed in line with Bellarine gateway Leopold’s ongoing housing and infrastructure growth of recent years, with over 160 enquiries since launching.
Executive director Rory Costelloe said Villawood’s previous efforts in Leopold had been strongly welcomed and the new project would offer more of Villawood’s premium quality.
“We’re excited to have acquired the land east of Estuary so we can now continue the estate with River Cove, and join Melaleuca Road to Ash Road,” he said.
“When we launched the original Estuary, in 2011, it had 651 lots and we thought would take nine years to sell the project, but we under-estimated the underlying local demand and it was sold out in just four years.
“The vast majority of buyers at the original Estuary were local Leopold buyers looking for a quality estate and community within Leopold without having to move into Geelong.
“Many families had moved to Leopold as first home buyers in the 1970s, ’80s and ’90s.
“They really appreciated the Villawood brand coming and delivering a new standard of wetlands, sculptures and sporting facilities – together with a spectacular view over Reedy Lakes, with some higher blocks overlooking Corio Bay.
“Now their kids have grown up and want to buy a site in Leopold, too.”
The existing Estuary is home to more than 1500 residents who enjoy an enviable lifestyle, just a short drive from the Bellarine’s best beaches and only 10 kilometres from Geelong’s CBD.
Mr Costelloe said a number of people had already lined up to buy at River Cove, all from Leopold bar one from neighbouring Barwon Heads.
“It’s good to see residents of Leopold are proud of their community and want to continue to live close to their friends and family,” he said.
“The new expanded Gateway Plaza shopping centre, with Bunnings and all its other stores, has been a great drawcard as well.”
Mr Costelloe said the River Cove blocks would come to market with signature Villawood quality.
“They have a reasonable level to build on and will feature wetlands and a large community park,” he said.
“We imagine there are even buyers in Estuary who bought nearly a decade ago who will have enjoyed a good capital gain since then which will enable them to upgrade into River Cove.”
River Cove Estuary is a stone’s throw from Lake Connewarre where residents can walk, canoe, bird watch, wander amongst seagrass meadows, or take the kids cycling along riverine trails.
“Retail amenities on Ash Road are just a short stroll away with the extensive Gateway Plaza just a few minutes drive.”