Villawood buys another south-east Queensland development site
The Melbourne-based developer Villawood has secured another south-east Queensland development site.
It is a 233-hectare site with approval for 150 plus rural-residential lots at Kingsholme in the Gold Coast hinterland.
Lots will be typically 5,000 square metres.
The sixth acquisition by Villawood over the past year is close to the 86-hectare Gold Coast Country Club in Helensvale which Villawood acquired earlier this month.
The Helensvale site has potential for 1,200 dwellings.
Established by Rory Costelloe in Bendigo in 1989, the private developer turns over between $200 million and $250 million a year, securing about $23 million in pre-tax profits, according to a recent Australian Financial Review article.
The developer has an active and future land bank of over 19,000 lots.
Villawood Properties’ co-executive director Tony Johnson said that the site in Kingsholme was an opportunity the company "couldn’t pass up."
“This stunning property is elevated, meaning our buyers will benefit from incredible views to the Gold Coast, Stradbroke Island and the Hinterland, making it one of the most enviable locations in this region.
“Located half way between Brisbane and the Gold Coast, makes this land very appealing to those who want the best of both worlds – to work in the Brisbane CBD, but still be able to come home and be close to the beach on the Gold Coast," he said.
There are six schools all within a seven kilometre radius of the site and the Ormeau Train Station is two kilometres away.
Works are expected to commence in mid-2015.