Posts in category: Client News

Privately-owned developer Orchard Property Group has completed the acquisition of a prime 34-hectare development-ready site at Ripley, in the heart of the Ripley Valley Priority Development Area (PDA).

The acquisition takes Orchard’s total pipeline of lots owned and under control to more than 2,000 across five different projects around South East Queensland.

The property at 160 Daleys Road, Ripley, was acquired from a group of investors for $11 million. The company has had the site under contract for more than 12 months and completed settlement in late August.

The site includes an existing Development Approval for a new masterplanned community with 426 lots. Orchard intends to reconfigure the existing approval to increase the yield to 440 lots ahead of a launch in 2020.

The sale was negotiated by Ray White Special Projects’ Tony Williams and Mark Creevey.

Orchard Property Group Managing Director Brent Hailey said the company had long-held ambitions to acquire a site in the Ripley PDA.

“The Ripley Valley is one of the largest urban growth areas in Australia and will eventually be home to a new city nearly as large as Toowoomba with a population of 120,000 people and 50,000 new homes,” he said.

“The PDA has been incredibly successful since it was declared in 2010 and our expectations are that it will continue to grow for the foreseeable future.”

Orchard has also secured a $7.2 million Catalyst Infrastructure Program grant from Economic Development Queensland (EDQ) to undertake a major upgrade of Binnies Road, Ripley, to not only provide access to their site but to provide a much-needed access to a number of properties at the western end of the Ripley PDA.

Construction of the new road is due to begin by the end of the year with the project expected to commence marketing early in 2020.

The new project will be Orchard’s second largest, following the launch earlier this year of the 650-lot, $120 million Pebble Creek project at South Maclean. The company recently completed sales at PineVue @ Maudsland (110 lots) and has other active projects at Ormeau, Narangba and Caboolture.

Ray White Special Projects Tony Williams said Orchard had secured a very strategic site after successfully navigating a range of issues to unpack the development potential of the opportunity.

“The property provided one of the few remaining parcels in the Valley which offers scale and with the benefit of negotiating the catalyst infrastructure agreement, Orchard have fast tracked their entry to the Ripley market,” he said.

Mr Creevey said land parcels with scale that had approvals already in place were in high demand throughout South East Queensland.

“The interest levels we’re witnessing for approved development sites are at the highest we’ve seen in a long time due to the scarcity of quality offerings,” Mr Creevey said.

Mr Hailey said the company remained optimistic about the south east Queensland land market.

“With low interest rates expected to continue for the foreseeable future and continued steady population growth in the south east, the fundamentals for the land market remain quite strong,” he said.

“There is plenty of competition but with the right product, in the right place at the right price there is plenty of demand and opportunities for success.

“As with all our projects, we will be focused on creating a vibrant place to live by providing exceptional amenity, connectivity and urban design.”

Park Ridge’s newest masterplanned community has marked its official launch by hosting the first Carver’s Reach Home Expo on Saturday (10 August).

The Carver’s Reach Home Expo, proudly presented by Golden Gate Property, will provide home buyers with an opportunity to meet Queensland’s leading builders, discuss finance options with RAMS and see a range of landscaping solutions on display.

Since the Carver’s Reach pre-launch marketing campaign commenced, which coincided with the start of construction in mid-June, nearly 30% of lots have been contracted, mainly to local buyers. The Jarrah release, being the first 67 lot stage, includes homesites priced from $203,000 and house and land packages from $398,800.

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The Expo includes a range of family entertainment and kids activities. Builders in attendance on the day include Metricon, Brighton Homes, Bold, Coral Homes, Simonds and Porter Davis.

David Whiteman, Director of Development at Golden Gate Property, said the launch of the Carver’s Reach project was well timed given the change in sentiment towards property which has been prevalent since the Federal election.

“There has been a renewed sense of positivity in the market over the last few weeks with lower interest rates and a greater willingness for banks to lend money for quality property,” he said.

Research undertaken by Oliver Hume, whom is running the Sales and Marketing for Carver’s Reach, shows while the market has been subdued over the last 12 months, the Logan land market remains one of the best long-term performers in south east Queensland.

Over the last five years the median lot price in Logan has increased 23.2%, including 4% over the 12 months to the end of June this year. The average lot size in the region is 422sqm, with Carver’s Reach achieving an average of 440sqm.

Oliver Hume Queensland General Manager Matt Barr said Park Ridge had emerged as one of the most popular suburbs for new residential development over recent years.

“Logan is one of the top performing markets in South East Queensland over the last few years and Park Ridge is the hottest suburb in the city,” he said.

“We have had hundreds of enquires over the last few weeks since we turned the first sod and would expect to continue a brisk rate of sales now we are fully live.”

The first homesites are expected to settle in early 2020 with first residents due to move in mid 2020.

The project is well connected to the local area, and the rest of south east Queensland with easy access to the west via Mt Lindesay Highway, east via Chambers Flat Road, and north via the Logan Motorway.

The Park Ridge area, which is inclusive of Boronia Heights, has a forecasted population of 29,987 by 2036 representing an increase of over 20,000 residents since the 2016 census. Increasing the current population by 137% over a 20-year period.

Mr Whiteman said the masterplan for the site would have a range of features and amenities including a corridor park, recreation park, childcare centre, and integrated passive recreation opportunities within adjoining biodiversity areas.

“It is a true, multi-stage masterplanned community where we have the scope to be creative in terms of the open space and connectivity with the local community,” he said.

Project Details

Name: Carver’s Reach
Address: 140 Park Ridge Road, Park Ridge
Price: Homesites from $203,000 and Home & Land from $398,880
Size: First stage homesites available from 313-808sqm
Web: carversreach.com.au
Phone: 1800 514 883

Diversified property group CFMG Capital has completed the acquisition of three parcels of land across Queensland and Victoria that will collectively yield almost 200 lots.

The sites are located at Rochedale and Park Ridge, both of which lie in the Brisbane to Gold Coast growth corridor, and in the Melbourne suburb of Wollert, 26km north of the CBD.

The 4.94-hectare Park Ridge site, which is bordered by Koplick and East Beaumont roads west of the Logan CBD and has already received Development Approval (DA), will feature 89 lots with an average size of 373sqm.

CFMG Capital will develop a further 15 lots with an average size of 439sqm at Gardener Rd, Rochedale, after acquiring 1.33ha of land 17km south-east of the Brisbane CBD in a deal worth $3.375 million.

The company has also lodged a Development Application for 83 lots at Epping Rd, Wollert, a lifestyle suburb popular with older couples and independents.

To be known as Acacia Village, the project will feature average lot sizes of 326sqm and follows CFMG Capitals’s purchase of the 5.86-hecatre site for $6.8 million.

The trio of acquisitions will take CFMG Capitals’s development pipeline to more than 1,000 lots across 10 different projects in Queensland and Victoria.

CFMG Capital General Manager Andrew Thomson said the three sites ticked all the boxes when it came to meeting the demands of both investors and owner-occupiers.

“It can be a challenge finding quality land close to metropolitan centres so these acquisitions are a huge boost for property buyers in both the South-East Queensland and Melbourne markets,” he said.

“As well as being able to create a home to suit their own preferences, all the sites are close to the infrastructure and services that make Brisbane, Logan and Melbourne so attractive.

“The team at CFMG Capital takes great care to identify prime land for our projects and there is no doubt these three investments fit the bill, particularly given the demand for quality affordable projects in strong growth corridors continues to rise.”

Lot prices at the Wollert site will start from $199,000, while the Park Ridge lots will range from $209,000 to $239,000.

Prices at the Rochedale site, with its exclusive release of only 15 lots, will start from $420,000.

The new acquisitions add to a CFMG Capital portfolio that includes Lomandra Park at Bridgeman Downs, Elevate at Ormeau Hills, Creeks Edge and Oakland Pocket at Morayfield, Middleton Park at Logan Reserve and Solander at Park Ridge.

CFMG Capital operates two core divisions; a residential communities development business with a pipeline of more than 1,000 lots and residential funds management business which has raised more than $90 million in third party equity.

Queensland developer Golden Gate Property has completed the acquisition of a 50ha residential development site at Park Ridge, 32 kilometres drive from the Brisbane CBD and in the heart of the city’s southern growth corridor.

The company is now within the final stages of finalising plans for the launch of a 600-lot masterplanned community with an expected gross realisation in excess of $135 million.

The site comprises nine separate lots located along Park Ridge Road, Park Ridge, in the heart of the fast growing Logan City Council local government area. The site is well connected to the surrounding area and the rest of south east Queensland with easy access to the west via Mt Lindesay Highway, east via Chambers Flat Road and north via the Logan Motorway.

The privately-owned Golden Gate Property (www.ggpg.com.au) has a number of other in-fill projects within the broader SEQ region and is currently looking to release Stage 2 of their 97-lot, $23 million Regency Green estate nearby at Green Road, Park Ridge.

Director of Development David Whiteman said the site required complex negotiations to aggregate a group of fragmented rural land holdings into a single site and would be the company’s largest project to date.

“It is a significant site that we believe has great potential due to its existing natural attributes and its connectivity with major transport infrastructure and the nearby Park Ridge Central shopping precinct,” he said.

“Our intention is to create a vibrant community that generates opportunities for, and enhances the lives of local residents with improved amenities, public transport links and public realm offerings with over six hectares of district level parklands onsite.

“Regency Green has given us a strong understanding of the area and we are confident there is demand for a quality owner-occupier focused product in the area.”

Future residents will benefit from the South East Queensland Infrastructure Plan, which outlines $134 billion in infrastructure projects including the Meadowbank health, education and innovation hub masterplan and Logan Hospital expansion and refurbishment.

Mr Whiteman said the company had commissioned research that showed the primary catchment for the project (consisting of Park Ridge and Boronia Heights) was expected to cater for an extra 20,000 residents by 2036, with a growth rate of 4.9% a year (2016-2036).

Residential land sales in Logan LGA continue to follow upwards trends, accounting for 38.5% of SEQ’s current developable land, providing a significant scope for prosperous future residential land development.

The project, named Carver’s Reach estate, is due to be launched within months pending engagement of the site’s principal civil contractor.

Mr Whiteman said the masterplan for the site would have a range of features and amenities including a district recreation park, a local park, a childcare centre and integrated passive recreation opportunities within adjoining biodiversity areas which are planned for rehabilitation.

“It is a true, multi-stage masterplanned community where we have the scope to be creative in terms of the open space and connectivity with the local community,” he said. “We look forward to launching the project in coming months.”

What RGCMM achieved for DHA’s Torhaven

Families from all over Ipswich and Springfield flocked to Torhaven, Defence Housing Australia’s (DHA) latest development in Deebing Heights for a free family fun day, celebrating the opening of a new $2 million dollar park.

On Saturday, February 9, Torhaven Park played host to more than 600 members of the community who enjoyed family-friendly entertainment, free food and treats. Children were delighted to play in Torhaven’s new adventure playground featuring slides, swings, spinami and a treehouse network connected by rope bridges, climbing frames and rock climbing walls.

There was also a visit from the Queensland Fire Service from Ripley who come along to show all the children their fire truck and let them spray water out of the fire hose.

DHA’s Development Manager Meaghan O’Shea said the event was a great success at showcasing the new parklands as a fabulous space for families to come together in Deebing Heights.

“It was important for us to let the Deebing Heights community know that while the park is a part of our Torhaven project, everyone in the broader area can enjoy the benefits it provides,” she said.

“This event is the first of many community activites planned. We have put together a calendar of events to be held at Torhaven Park for the whole community to enjoy, including community BBQs, a Halloween ‘trick or treat’ trail and a Christmas party.”

Torhaven’s parklands are a natural landscape spanning 22,000 square metres of sculpted gardens, open green space and intricately designed wetlands. Torhaven Park features an exciting treehouse network with rope bridges, climbing frames and rock climbing walls. Children can enjoy the seesaw, spinami, hoop carousel, multi-swing and mounded slippery slides.

Located off Andy Way, Deebing Heights, the parklands provide an oasis for birdlife with a wetland full of native plants and trees. The area was designed to mimic natural waterways, including shaded creek beds and riverbanks constructed out of boulders sourced from the site.

For more information and to keep up to date with news and events visit www.torhaven.com.au and like us on Facebook www.facebook.com/torhaven.

What RGCMM achieved for DHA’s Torhaven

About Torhaven

Torhaven is a beautiful new parkland community occupying one of Deebing Heights’ most appealing, elevated locations. Spanning 27 hectares with over 20 per cent green space, Torhaven is being developed by Defence Housing Australia and marketed by Oliver Hume. When complete, Torhaven will comprise 294 home sites and two major parklands. The first stage of 96 lots is now complete with over 70 per cent of retail lots sold, and new homes now under construction. Another 11 lots in stage two have just been released for sale to the public.