Otto Estate introduces second stage

National developer and home builder Tribeca is building on its successful foray into the Gold Coast market with plans to expand on a residential estate it completed at Coomera two years ago.Tribeca has taken a more sophisticated planning approach to the second stage of the Otto Estate, timing the development with growing buyer demand as retail giant Westfield ramps up construction of the $470 million Coomera Town Centre.Otto Estate will deliver more than 100 contemporary homes on one of the highest points in Coomera along Foxwell Road, just minutes from the Coomera rail station and the emerging Town Centre precinct.Homes in stage two of the Otto estate also will be set amid more than 11,000sqm of green space featuring a central community park and will offer its residents sweeping views of the surrounding area.Demand has already been strong ahead of the official launch of the development which Tribeca CEO Matthew Adamo said will be targeting owner occupiers.“Otto Estate was a huge success for us when we completed the first stage in 2015,”said Mr Adamo.“The offering appealed strongly to investors who saw the enormous potential of the area at the time.“However, with the town centre now under way and becoming a reality after so long in the planning stage, we are definitely seeing greater demand from owner occupiers.“That has led us to take a masterplanned approach to this development in terms of the urban landscape by creating a central parkland for residents that will offer recreational open space and barbecue areas surrounded by mature trees.“These are among the highest home sites available at Coomera with great views, so we were mindful of creating something special to reflect the lifestyles of those who are likely to buy at Otto Estate.“Early registrations have given us confidence that Otto Estate will become a popular choice for buyers.“Our residents will be just 2km from what is destined to become the area’s shopping, dining, entertainment and public transport hub when it opens next year.”Otto Estate is one of three residential projects undertaken by Tribeca on the Gold Coast in the past year.After selling all the 122 homes in the first stage of Otto in 2015, the developer this year achieved a sell-out of Evergreen Estate at Ormeau.Tribeca is currently selling a new boutique release of 45 lots within the masterplanned Pimpama Village development taking shape on a 53-hectare site off the Old Pacific Highway at Pimpama.The privately-owned Tribeca group has developed a reputation for continuous growth and innovation in the property industry by giving each of its residential estates their own identity and character.Civil construction has already started on the next stage of Otto Estate with construction of homes expected to start in mid-2018.Otto is offering flat residential lots engineered to maximise usable space. They range from 315sqm to 502sqm, with a handful of larger sites up to 749sqm.Single and double-storey designs are available and house-and-land packages are well priced from $489,980.“Otto Estate stage two will offer more choice for buyers and more standard inclusions,” said Mr Adamo.“We are a fixed price turnkey developer, so that means we deliver a fully completed high quality product to our clients.”Otto is located close to a local Woolworths supermarket, childcare centres, schools and the Coomera train station which will connect with the light rail in early 2018.Tribeca’s display homes can be inspected at the Otto development, as well as in Pimpama, by appointment. The display suite is now open at 361 Foxwell Road, Coomera.Tribeca has offices in Sydney, Melbourne, Brisbane and the Gold Coast. Over the past decade it has delivered more than 4500 homes worth $1.1 billion in developed value across Queensland, NSW and Victoria.For more details, visit www.otto.tribeca.com.au