Frasers Property Acquires 65 Hectare Yatala Site - Queensland Property Investor
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Frasers Property Acquires 65 Hectare Yatala Site

Frasers Property Acquires 65 Hectare Yatala Site

Singapore-backed Frasers Property has purchased a 65-hectare industrial site in Yatala, located in the southern corridor between Brisbane and the Gold Coast, from privately-owned Seymour Group.

The Brisbane-based developer, led by Kevin Seymour, purchased the site only this year having paid approximately $20 million for the land parcel.

Frasers Property Industrial’s Ian Barter said the acquisition “aligns with Frasers strategy” of purchasing large land holdings in core markets close to major infrastructure.

“The Yatala area will continue to benefit from the expansion of both Brisbane and Gold Coast regions,” Barter said.

“We see this region consolidating its position as one of the major distribution hubs for South East Queensland.”

Frasers says masterplanning of the Yatala site will accommodate up to 300,000sq m of built form with stage one of the project slated for completion by early 2021.

Frasers says it has developed around $137 million worth of institutional development in the Yatala region, one of South East Queensland’s major industrial and logistics hubs.

The land parcel, located on Stapylton Jacobs Well Road, takes Frasers’ industrial land holdings and development in the area to 90-hectares.

Industrial Space’s Adam Wills brokered the transaction but would not comment on the sale price.

Earlier this year, Seymour Group purchased a car dealership, 99 Breakfast Creek Road, in Brisbane from ASX-listed car dealer AP Eagers for $61 million.

While in April, the group won approval for its nine-level beachfront development at 2 First Avenue Broadbeach on the Gold Coast, where the Queensland rich-lister has decided to keep two apartments for himself.

 

 

Source: theurbandeveloper.com

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Developments

Sunland Wins Approval for Mermaid Waters Apartments

Sunland Wins Approval for Mermaid Waters Apartments (2)

Residential developer Sunland has received approval from the Gold Coast City Council for its $240 million lakefront apartment development in Mermaid Waters on the Gold Coast.

The residential development is part of the Queensland-based developer’s masterplanned community The Lakes, a 42-hectare $1.3 billion project that will eventually have its own community and leisure-lifestyle retail village.

Plans, lodged late in 2018 for 289 new high-end apartments spanning four buildings, were revised in June increasing the number of apartments to 310.

The four mid-rise towers, designed by ex-Zaha Hadid designer Contreras Earl, will offer one, two and three-bedroom apartments overlooking the newly-named “Lake Unity” and ground level retail.

Sunland Wins Approval for Mermaid Waters Apartments (1)

The two 10-storey buildings at the centre of the design feature ground-level retail and commercial spaces that will link to the future retail village, while the two 12-storey buildings will accommodate extensive resident amenities.

The approved buildings form part of a mega-site bordered by Bermuda Street and Hooker Boulevard that was acquired by Sunland Group in 2014 for $61 million.

Managing director Sahba Abedian said the project would provide unique opportunities capturing lakefront, city skyline, and hinterland views.

“The Lanes Residences combines leading architecture with retail, lifestyle and leisure amenities of an unprecedented scale.”

“The buildings will link to the future retail village at The Lanes and feature their own ground-level retail and commercial spaces, as well as extensive resident amenities.”

The development will also feature a 4,500sq m community lakeside green, which will form the centrepiece of project and become a focal point for the outdoor retail promenade.

The ASX-listed developer, which builds apartments and housing lots, currently holds a portfolio of 4,292 residential homes with a total end vale of $3 billion.

Earlier this year, Sunland offloaded the convenience retail asset Lakeview Retail Centre adjoining The Lakes precinct for $20 million in order to up capital to invest back into the masterplanned community.

Early works have already commenced, with two tower cranes installed on site with the project set to be launched to the market early 2020.

Construction is also under way at Sunland’s $250 million high-rise development on Hedges Avenue in Mermaid Beach.

The developer has plans with the Gold Coast City Council for a 16-level boutique apartment project located at 180 Marine Parade in Labrador.

 

 

Source: theurbandeveloper.com

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Developments

Failed-Ralan Development Site in Surfers Paradise Hits the Market

Failed-Ralan Development Site in Surfers Paradise Hits the Market

An entire city block on the fringes of Surfers Paradise has hit the market following the collapse of Sydney-based property developer Ralan Group.

The Budds Beach site is approved for a development known as “Sapphire” and greenlit in 2016 for 1000 apartments across two high-rise apartment buildings.

Failed Ralan Group, led by director William O’Dwyer, went into voluntary administration earlier this year leaving apartment buyers at risk after investigations found a shortfall of $277 million in the developer’s trust account for deposits.

At the time of its collapse, the developer had a pipeline of more than 3000 residential units, many in the construction or pre-sale stage.

Ralan purchased the Surfers Paradise development site, which spans an entire 11,470sq m city block bounded by Norfolk, Pine, Oak and and Ferny avenues in 2015 for just under $20 million.

Knight Frank are marketing the sale, who are acting under instructions from Deloitte appointed by the mortgagee.

Failed-Ralan Development Site in Surfers Paradise Hits the Market 1

The Sapphire development site’s approval allows for two towers that would stand 71 and 33-storeys tall, along with a café, community centre, restaurant, retail and food premises

Knight Frank’s Mark Witheriff and James Branch are managing the listing, which is offered to market “in one line” or in parts due to the site made up of multiple existing titles and properties.

The pair said the campaign for the sale of the major site is two-fold, offered to market as a whole city block, or as individual beach houses, with expectation interest would come from major developers.

“The existing dwellings offer both owner occupiers and potential investors various opportunities to acquire either one or multiple properties, underpinned by significant future development potential, including both residential and commercial,” Witheriff said.

“We expect some buyers may consider acquiring a grouping of lots attracted by the future development potential in the precinct.”

The Sapphire site is being offered for sale by formal tender which closes at the end of this month.

 

 

 

Source: theurbandeveloper.com

 

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Brisbane

Apartment Approvals Jump 16pc in September

Apartment Approvals Jump 16pc in September.

In the latest positive economic indicator of a turnaround in Australia’s property markets, building approvals rebounded in September, led by apartments with a volatile 16.1 per cent jump for the month.

New housing approvals recorded a 7.6 per cent improvement, and while attached dwelling approvals—flats, townhouses and apartments—posted the largest monthly increase, it is expected to be short-lived with approvals still trending downward.

Total approvals remain 21.1 per cent lower than the same time last year, and apartment approvals have fallen by 44 per cent to 46,110 in 2018-19—the lowest since 2012-13.

The decline is even more stark for buildings of 20-storeys or more which have nearly halved in the 2018-19 financial year, falling from 19,369 approvals to 10,467.

Since the peak of the apartment approval boom in 2015-16, low to mid-storey apartment approvals—four to eight levels—have declined 37.1 per cent, while mid-storey apartments of nine to 19-levels have recorded a 43.4 per cent fall.

The lag between approvals and construction can stretch out to as much as 18 months, which means it is still too soon to confirm that we have passed the bottom of the cycle, HIA chief economist Tim Reardon points out.

“But this result is another indication that the market is stabilising,” Reardon said.

Apartment approvals, ABS

Apartment Approvals Jump 16pc in September

Detached housing figures increased 2.7 per cent compared to the previous month, but approvals for the September quarter remain considerably lower than a year earlier.

HIA’s new home sales figures showed an uplift for the second month in a row, with improving house prices, low interest rates and an easing in mortgage serviceability guidelines helping the residential market regain its footing.

“However, it is not until June quarter next year that these measures are expected to drive sustained growth in dwelling approvals,” BIS principal economist Tim Hibbert said.

On a state by state basis, Queensland made the largest improvement with a 19.6 per cent jump in approvals, with Victoria (3.3 per cent), South Australia (16 per cent) and Tasmania (3. 4 per cent) all recording jumps in September.

Queensland apartment approvals recorded the largest peak-to-trough fall, with only 2,427 high rise apartments approved in 2018-19—a 76 per cent decrease from its 2015-16 peak of 10,111 apartment approvals.

 

 

Source: theurbandeveloper.com

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