IN BRIEF: Peet invests $45 million in Queensland

Cassidy KnowltonDecember 8, 2020

Property group Peet has bought a half-stake in a $90 million mixed residential and commercial development in Flagstone City, in south-east Queensland, The Australian has reported. Industry super fund MTAA super sold the 50% share in the 1244-hectare Flagstone West development for $45 million. The development is next to an existing MTAA development in Flagstone East, which has infrastructure, services and about 3500 residents. When Flagstone West is completed it is expected to be worth $3.5 billion, and the area has been identified by the Queensland Government as an urban development area.

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