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Affordability has underpinned growing demand for new land in the Ipswich corridor

Providence at Ripley Valley Source: Supplied

AFFORDABILITY has underpinned growing demand for new land in Ipswich with developer AMEX Corporation releasing more lots.

Affordability has underpinned growing demand for new land in Ipswich with developer AMEX Corporation releasing more lots.

As a result of the continued strength of the Ipswich land market, the group has released a new stage in its Horizons precinct of the Providence South Ripley master-planned community.

The eight lots are priced from $200,700 and range in size from 350sq m to 448sq m.

Providence project director Michael Khan said their confidence in the area was backed by research by Oliver Hume, which revealed the Ipswich local government area had the strongest growth of any market in southeast Queensland for new land.

In the three months to the end of September, Ipswich’s average price for the new land was up 3 per cent compared with the June quarter to an average of $198,950.

The number of new land sales increased during the quarter by 25 per cent with a total of 637 sales.

Providence at Ripley valley Source: Supplied

Providence at Ripley valley Source: Supplied

Mr Khan said the relative affordability of the Ipswich and Ripley Valley area, particularly when compared to interstate markets, continued to drive demand for new land in the area.

“Value for money remains one of the most important factors for buyers and maximising every dollar when it comes to the location and access to amenities is extremely important,” he said.

The latest release in Horizon is close to the planned town centre area and district park.

The entire Horizon precinct has 280 lots, two parks, the planned Providence Town Centre and a future Prep to Year 12 school.

The $60 million Horizon precinct sits within the $1.2 billion Providence project which is a masterplanned community in the Ripley Valley growth corridor.

Oliver Hume Queensland general manager Matt Barr said the Ripley Valley was popular because it was close to major job nodes in Ipswich, Amberley and Springfield.

He said during the next decade hundreds of people would move into the area every month and he tipped that to continue for some time.

Originally published: www.news.com.au

Brisbane

Woolworths Plans $184m Distribution Centre in Brisbane

Woolworths Plans $184m Distribution Centre in Brisbane

Supermarket giant Woolworths has lodged a development application for a new 42,000sq m distribution centre in Brisbane.

Plans for the $184 million facility, lodged with the Brisbane City Council, show the distribution centre will be located in Heathwood, located 19 kilometres from Brisbane CBD.

The project is majority funded by Logos, with property development costs of around $148 million, and Woolworths signing an initial 15-year lease on the Heathwood site.

If approved by council, Woolworths chief supply chain officer Paul Graham said the facility will enable efficient deliveries to around 260 stores across Queensland and northern New South Wales.

“The extra capacity through the Heathwood distribution centre will be key to supporting our future growth in Queensland,” Graham said.

Graham said the facility will be co-located with Woolworths’ meat supplier Hilton Meats’ production facility, which the company expects would help remove up to 390 trucks from Brisbane roads each week.

Woolworths reported $32.4 billion in revenue in its half year earnings released this month, and a net profit of $1.36 billion, largely in line with expectations.

The February results also show that Woolworths raised its estimate of staff underpayments to $315 million from its initial estimate of $200 million following its review, impacting a larger number of employees than initially expected.

The supermarket giant has repaid up to $80 million to staff, following its admission late last year of staff underpayments.

 

 

 

This article is republished from theurbandeveloper.com under a Creative Commons license. Read the original article.

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Developments

Developer Aland Wins Approval for Four Towers in Southport

Developer Aland Wins Approval for Four Towers in Southport (1)

Sydney developer Aland will build four towers in Southport after gaining approval from the Gold Coast City Council.

The project, led by Andrew Hrsto and George Flemming, was planned for vacant lots—at 91-101 Nerang Street and 22 Cougal Street, Southport—opposite St Hilda’s School.

The development includes four towers comprising 1,019 dwellings and 137 short term accommodation units, restaurants, retail, a function facility and theatre.

Only one submission was made against the proposal relating to traffic impacts for access to a neighbouring property.

Council officers also noted traffic concerns for the area with infrastructure updates and sewerage improvements earmarked for site which sits within the Southport Priority Development Area.

Developer Aland Wins Approval for Four Towers in Southport (2)

Council said they would provide $4.9 million toward the upgrade of the sewerage system however the final estimated infrastructure charge for the development is expected to cost $26.86 million.

The developers previously planned 1,500 dwellings on the site across five towers however this was changed after pre-lodgement meetings with council officers.

Aland also has plans for 366 apartment tower at 16 Parkes Street, Parramatta which they purchased from Singapore-listed CWG International for $40 million in late 2017.

They also own Peak Towers which was located next door to the plagued Mascot Towers.

The Southport development would occur over four stages starting with the shortest tower at 18-storeys and a podium.

Stage two will include a 50-storey tower, basement carpark and the rest of commercial space before the final stage commenced with the construction of a 62-storey and 71-storey tower.

The developers tapped architecture firm Tony Owen Partners to design the four tower project.

 

 

 

This article is republished from theurbandeveloper.com under a Creative Commons license. Read the original article.

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Developments

Spyre Group Wins Approval for Burleigh Heads Tower

Spyre Group Wins Approval for Burleigh Heads Tower (1)

Brisbane-based developer Spyre Group is set to replace a 12-year-old apartment block with an 18-storey apartment tower on Burleigh’s The Esplanade.

The developer pulled together the $16 million deal from the eight owners of the existing building, submitting plans in late 2019 for a $77 million tower on the site.

The tower, which received approval on Tuesday, takes advantage of new increased-density zoning rules to build to the 53-metre height limit on the 112 The Esplanade site.

The Bureau Proberts-designed development will comprise 33 apartments over 18-storeys, with 16-levels of half-floor apartments and one ground floor terrace unit.

Spyre director Andrew Malouf said that a scarcity of development sites and a marked undersupply of luxury apartment stock attracted the developer to Burleigh Heads.

“This is our fourth attempt of finding a site on The Esplanade,” Malouf said.

“I think that the advantage we had was that no one looked at [this] site with the idea that an [existing 8-storey building] could be developed.

“By working with the existing owners and generating development uplift from an additional 10-storeys on the land, it proved to be a very feasible project.”

Spyre Group Wins Approval for Burleigh Heads Tower (3)

The approval comes as the Gold Coast’s southern markets clock their best performance in six years, according to Urbis’ latest apartment report.

Urbis consultant Lynda Campell said that the southern beaches were the star performer, recording the highest sales rate for the quarter.

“In 2019, the southern beaches precinct saw a total 434 sales—its highest annual result in six years,” Campbell said.

“The southern beaches are generally associated with more premium and boutique apartments. Of the 30 monitored developments selling in the precinct currently, only four contain more than 100 units.”

Spyre Group Wins Approval for Burleigh Heads Tower (2)

The existing block of apartments on the 1,011sq m beachfront site was developed by Mimi Macpherson—the sister of supermodel Elle—in a joint venture with PM Developments in 2003.

Demolition on the 18-storey apartment block could begin as early June, while Malouf said the developer will look to launch the project, “Natura”, in early March.

Further down The Esplanade, Nielson Properties is working through council approval on a $350 million twin-tower project. The development is set to include Burleigh Head’s first five star hotel.

 

 

 

This article is republished from theurbandeveloper.com under a Creative Commons license. Read the original article.

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