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Otto Estate is an established housing development in Coomera on the Gold Coast, sitting just a few minutes walk from the newly finished Coomera Town Centre. The first release of the house and land packages at Otto Estate has sold out, and the second has just been released. Otto Coomera offers house and land packages starting at $495,980, which is ideal for first-home buyers.
The second stage of Otto Estate, known as Otto II, contains 101 land plots. The home packages available offer both single and double storey residences and are all architecturally designed. Stage 1 of Otto Estate offered 112 homes and was completed in 2015. At the time, sales were strong with investors who saw the potential for the area. With the new Coomera Town Centre now underway, the developers have taken a master-planned approach with Otto II, focusing on urban landscaping, parkland and creating a community. As a result, this second stage has so far been popular with owner-occupiers.
One of the most stand-out features of Otto Estate is the offer of $10,000 Rental Assistance while your home is being built. For a limited time only, the developers of Otto Estate, Tribeca, are offering this financial assistance to help buyers get into their new home, without the stress of paying for their existing rent at the same time.
Otto Estate offers four fixed price house and land packages which are available for lots in Otto II. All are four-bedroom, two bathrooms and at least one lock up garage. There are a number of options design-wise in the four different packages and the configuration of bathrooms, garage spaces and living spaces are varied to accommodate different lifestyles and floor plans. The first package offers house and land starting at $495,980. The next house and land packages up are $512,980 and $545,980. The fourth and final package is $588,980, which includes four bedrooms, 2.5 bathrooms, two lounge areas, and two garage spaces. Lot sizes in Otto Estate range from 314m² to 726m².
Otto Estate offers a vast range of inclusions with their house and land packages, some of which aren’t often covered. Tribeca offers buyers at Otto a turn-key fixed price, 6 star rated energy efficient property, statutory 7-year warranty, 6-month defects liability period and complete settlement guidance.
But remember that…
Otto Estate is located at one of the highest points in Coomera, at 361 Foxwell Road. The development sits just five minutes from the Pacific Motorway, making travelling to either Brisbane or the Gold Coast easy. Brisbane CBD is approximately 40 minutes up the highway, with Surfers Paradise on the Gold Coast accessible within 25 minutes. Otto Estate is two minutes drive to Coomera Train Station. Both trains and buses can be accessed from this terminal. In terms of education, Otto is four minutes away from Coomera Rivers State School, nine minutes to Pimpama State Secondary College, seven minutes to Catholic and Anglican colleges and only 20 minutes to Griffith University for those studying at a tertiary level. Otto also sits only two minutes away from the TAFE Queensland Coomera Campus.
The northern area of the Gold Coast where Coomera sits is experiencing an immense growth period at the moment. This isn’t only limited to Coomera, but the surrounding suburbs of Helensvale, Oxenford and Pimpama. This comes as a result of population expansion in the Gold Coast and over $1 billion in the pipeline for infrastructure, transport and commercial developments to the area. With a current population of 12,000, Coomera is expected to multiply to almost 80,000 within the next 20 years — a population growth of 600%. To complement this, residential developments in Coomera are also going gung-ho. $150 million worth of residential buildings were approved during the last financial year alone.
The hub of it all is the new Coomera Town Centre, which is only a seven-minute drive from Otto Estate. Coomera Town Centre is a project by Westfield and is due for completion Thursday the 11th of October, 2018. With new restaurants, gyms, iPlay Adventure (with a Clip & Climb, high ripes, laser tag and arcade games) plus The Park, which will offer a ‘putt-putt meets beer-garden’ style venue. This 59,000m² site will be transformed into a new benchmark for dining, lifestyle and entertainment in the region.
Homes in Otto II will be set amid expansive green space — more than 11,000m² of it. The estate will feature a central community park which will be built as a part of the second state, offering excellent views out over the estate, provide BBQ areas and a playground for the little ones.
The size of the land in the second release of Otto Estate ranges from 314m² to 726m². The average plot size is between 350m² and 450m², with only seven plots available over 500m² in the estate. All blocks have frontages that range from 10.5m and 12.7m.
All homes at Otto feature four bedrooms and open-plan living. The ceilings are raised at 2.7m (as standard) and there is a single (or double) built-in garage. There are several floor plan designs for each house and land package Otto Estate, but each price point definitely has similarities, regardless of the design. The designs offer a mixture of traditional and contemporary features with different facade styles and house shapes to suit the block you select.
For the homes priced at $495,980, the house area is approximately 160m². The main bedrooms all have an ensuite and walk-in wardrobe with bedrooms two, three and four all having built-ins. The laundry is located in the single garage and there is a patio out the back extending from the lounge and dining area. There is also a front porch in addition to the back patio in some of the floor plans.
For the more expensive packages, the sizes of the homes increase to 180m² — 190m² and have a formal entryway as well as a double garage. The laundry is separate and extends off the garage. These mid-range homes also have a large family room, in addition to the dining and lounge.
The top house and land package available at Otto is typically two-story, with double garage, patio, kitchen lounge and dining typically downstairs. Upstairs you’ll find the bedrooms, as is typical in a standard two-storey. In the single storey homes at this price point have a much larger (and separate) laundry and a separate lounge area. The larger, single storey homes have areas of approximately 200m², whereas the dual storey floor plans offer 220m² — 230m² of space.
Each home at Otto Estate comes complete with window furnishings and both tiled and carpeted floors. The kitchens will have reconstituted stone bench tops and quality appliances. Split system air-conditioning and a dishwasher is also included as a part of the house and land packages. Each home comes with a driveway, clothesline, landscaping and is fully fenced.
Four-bedroom homes in Coomera are currently selling for a median price of $527,000. Otto Estate homes fit comfortably within this range as is to be expected for the brand new property. The annual growth in Coomera sits at 7.3% over the last 12 months, but rental demand remains average as is to be expected in an area that’s geared primarily towards owner-occupiers.
As we mentioned, Coomera and the surrounding area are exploding with residential developments at the moment, the majority of which are house and land. In Coomera itself, you’ll find Riverbrooke, a 26 townhouse development and Foreshore Coomera, a large, master-planned house and land development by Stockland. Next door, Pimpama is buzzing with three large land estates currently being developed — Pimpama Village, Dixon Park Estate and Manor Park Estate. In Helensvale, there is also a major house and land development, The Surrounds, with over 650 plots available.
Otto Estate is developed by Tribeca. Operating around Australia, Tribeca has delivered 5,000 homes across the eastern coast of Australia. Otto Estate is one of three residential projects completed by Tribeca on the Gold Coast within the past year. Evergreen Estate in Ormeau recently sold out and Tribeca has also just released Symphony, offering 45 lots within the master-planned Pimpama Village in Pimpama.
There is a sales suite and two display homes at Otto Estate Coomera, which are open by appointment from 10am – 4pm, Saturday – Wednesday. It is located onsite at 361 Foxwell Road Coomera. The easiest way to enter is via Henry Street.
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