Eco Trendee Homes lodges development plans for Bribie Island block

Eco Trendee Homes, the developer of a recently purchased Bribie Island site, has lodged development plans with Moreton Bay Council.

Ty Wardner, the Sunshine Coast-based developer, recently paid about $4 million in a receivership sale for the 42-hectare block of land on Bribie Island, 50 kilometres north of Brisbane.

The subdivision site was bought with preliminary development approval for 544 lots.

The $100 million plans, which date back to 2007, include 10 proposed stages of traditional housing lots, medium-density and retirement developments.

The existing approval for the development will lapse in 2013.

The Eco Trendee plans were drafted by urban planners and architects The Helibronn Group.

The site, at 69 Coolgarra Avenue in Bongaree, attracted formal offers from nine groups when offered through a public tender campaign by Ray White Special Project Queensland directors Mark Creevey and Tony Williams.

Williams says there was strong interest from developers before its sale earlier this year.

"There is definite demand for developers looking for good sites to acquire.

"Broadly across south-east Queensland there’s a limited quantum of sites a reasonable distance from Brisbane with a capacity and size like this. There are a handful in hands of larger developers."

"It varies from asset to asset, but by and large with a stereotypical site with advanced planning you’ll get good interest," Williams says.

It was sold under instructions of McGrathNicol, the receivers and managers of Dux Property Group.

Williams says the land is close to the surf beach and golf courses.

“The area is well serviced with amenities, with the Bribie Island Shopping Centre containing Woolworths and 30 specialty shops.

The proposed development includes a 7.65-hectare lake as a central water feature.

The 148-square-kilometre island is the most northern of the three major islands forming the coastline sheltering Moreton Bay and is the only island linked to the mainland by bridge.

In 2009 Dux Property Group took exception to the government’s 2004 valuation of the site at $17.35 million and took the Department of Natural Resources and Water to the Land Court of Queensland.

By  June 2012 the site was valued at $8 million.