By Charlene Gatt
MORE than 130 families have made Footscray’s newest housing estate home.
The $120 million Banbury Village development is quick becoming a hive of activity, with 155 homes and apartments already sold and another 275 still to come.
Cedar Woods Victorian Development Manager Patrick Archer said a shortage of premium new homes and townhouses in Footscray and surrounding suburbs was driving demand for the Banbury Village estate.
“Affordable property close to the CBD is becoming increasingly sought-after,” Mr Archer said.
“With its location just 6.5 kilometres from the CBD and amazing transport and lifestyle amenities, Banbury Village offers purchasers something unique.
“Being the largest project of its type in the inner West, Banbury Village offers homebuyers the opportunity to own a brand new architecturally designed home, while at the same time having all the conveniences of an inner city lifestyle.”
Banbury Village is set on the nine-hectare former South Pacific Tyre site.
The Cedar Woods development will honour the legacy of the site through preservation of the two art deco buildings and by naming streets after long serving employees of Pacific Tyres.
Home buyers and investors snapped up the Monde release of homes earlier this year.
The 12 homes and townhouses sold out within days and set new price benchmarks for the estate, with a four-bedroom home achieving $775,000 and a three-bedroom townhouse fetching $670,000.
Ms Archer is expecting a similar result when the Opus release will be put on the market this Saturday.
