Stockland buys Hope Island waterfront site

Residential developer Stockland has purchased a 3.3 hectare waterfront site on the Gold Coast's Hope Island for $13.5 million.

The development on 2 – 44 Marina Quays Boulevard, Hope Island is Stockland’s first standalone medium density acquisition in Queensland

Ben Cantwell, General Manager of Medium Density at Stockland, said the Hope Island site is an enviable waterfront location, surrounded by excellent established housing, golf courses, and opposite the proposed town centre that will include a supermarket and specialty retail shops.

“This acquisition aligns with our strategy to diversify and broaden the reach of our residential business through medium density development, by offering our customers high-quality architecturally designed homes, in key locations and at affordable price points”, he said.

“The Hope Island site is also just around the corner from Stockland’s Foreshore Coomera development, where the Coomera Town Centre will become home to the northern Gold Coast’s biggest shopping complex and new central business district.

"This latest purchase builds on our long history of investment in the Gold Coast and commitment to the region."

Stockland is proposing to develop a range of townhomes on the site, with approximately half of them to have water frontage.

The Australian Financial Review reports the site was purchased from administrators of Fish Developments for $13.5 million.