February 2023 Celsius Land Project Update
Town planning for Champion Lakes is continuing with the updated local structure plan to be lodged this week in accordance with comments from state government authorities. The feasibility of this project is continuing to be impacted by increased construction costs. A decision on whether to proceed to tendering and construction will be made following the completion of a market review when the engineering design is complete.
At Piara Waters town planning is progressing with an approval now in place to commence preliminary earthworks for stage 1. The appointment of an earthworks contractor and finance approval is expected to be finalised in the coming weeks. Preliminary marketing from signage on site has provided good quality inquiry for the project with further marketing work underway in preparation for a sales release in 4 months’ time.
In Exmouth Celsius Land is project managing the construction of 24 apartments and villas which are leased to PHI International. The project is targeting occupation of the first 14 villas in April 2023 and the remaining 10 apartments in June 2023. Construction is well progressed on the villas with a focus now on the external servicing, concreting and landscaping.
Regards,
Brenton