CFMG offer $330,000 homesites at The Outlook at Yandina near Coolum

CFMG Capital has expanded its Queensland portfolio with the acquisition of a new development site at Yandina on the Sunshine Coast. The acquisition adds to its project pipeline of projects worth more than $450 million. The project pipeline is servicing the significant demand for vacant residential land located within inner-ring suburbs of major capital cities. Set in the Northern growth corridor The Outlook at Yandina will be developed as a boutique residential community just 20 minutes from Coolum. There will be 21 residential homesites with views through the leafy hillside towards the ocean. Lots will be priced from $330,000 The project is fully approved with construction due to commence in June. The site, acquired off-market direct with the vendor, has a total on-completion value of $7.3 million. CFMG Capital has also secured project sites at Burpengary and Bellmere elsewhere in the Northern growth corridor. These strategic acquisitions together with other recently acquired project sites take the total project pipeline to more than 1,500 allotments. Its Queensland sites are: Elevate, Ormeau Hills; Middleton Park, Logan Reserve; Lomandra Park, Bridgeman Downs; Mayfair Lane, Rochedale; Solander, Park Ridge; Birchwood Estate, Park Ridge; and The Outlook, Yandina. The company operates two core divisions; a residential communities development business with a pipeline of more than 1,500 lots and a residential funds management business that has raised more than $100 million in third-party equity. The acquisitions are funded through new capital raisings via the CFMG Land & Opportunity Fund Over the last 12 months to fund has returned approximately $13 million to investors at the forecast rate of return per annum with many investors rolling their capital back into the fund. Since January 2021, new funds raised by the CFMG Land & Opportunity Fund have offered a targeted return ranging from 8.95% to 10.95% CFMG Capital General Manager Andrew Thomson said the new sites provided a good opportunity to add new lots after with CFMG Capital having transacted $135 million in vacant land allotments in the last financial year. Since the start of HomeBuilder in June last year, it secured more than 450 sales across its projects. “We are now reaching the stage we need to replenish our pipeline, particularly in Queensland, to be ready for the next stage of growth. “Migration to Queensland is approaching the best levels in years, which means strong demand for new house and land in high growth corridors.” CFMG Capital has two residential subdivisions in Victoria, The Millstone, Melton South and Acacia Village, Wollert. It also has a presence at Newcastle in New South Wales.