Hundreds of people are making inquiries about 10 new blocks of land for sale in the ‘Moran Heights estate’ subdivision – about 18,000 square metres area of land adjoining St Thomas Aquinas School and St Columba’s Catholic College in Springwood.
It is being sold off by the Catholic diocese of Parramatta.
Expressions of interest on the land opened on October 4 and tenders closed on the lots on November 8.
Building could start as early as April.
Despite the development bordering bushland and being next to homes in Paulwood Avenue, which were burnt down in the 2013 bushfires, buyers have not been deterred.
Director of the Springwood office of Jim Aitken and Partners, Christian Ritchie, said the blocks, ranging in size from 1200 to 1600 square metres, were selling for between $550,000 and $600,000.
The larger blocks which averaged between 1700 to 3300 square metres were expected to sell for about $600,000 to $650,000.
Mr Ritchie believes when a house is built on the properties they will be valued at about $1.2 million.
He said they were big lots of relatively flat land that had low bushfire attack ratings.
Work had been done to ensure they had a good “protection zone” with independent bushfire assessments completed by the diocese prior to going to market.
“When you look at the cost of building on these blocks it will be really low,” he said.
“Blocks in Penrith selling for $650,000 are half the size.”
Recently Blue Mountains City Council endorsed the road names – Cregan Place and Paulwood Avenue.
Cregan Place is named after the first rector of the seminary, recognising the historical association of the subdivision to the St Columba’s School.
Development consent was given for the land in 2015 but it is not yet registered under the Land Titles office.
But Mr Ritchie said that was not unusual and he expected that to occur by April when building can commence.