Connect with us

Commercial

Okeland sell Providence, Ipswich site for new childcare centre

Okeland sell Providence, Ipswich site for new childcare centre

Okeland Communities (formerly Amex Corporation) has secured the sale of a South Ripley land parcel to the childcare operator Mother Duck.

The $1.1 million sale of the 2,500 sqm site on Botany Drive, South Ripley was the first time Okeland had sold down non-residential land within the Providence community.

Separate primary and secondary schools are already under construction by the State Government on a site adjacent to the new childcare centre and due to be opened for new students in 2020.

The new Mother Duck centre, designed by Context Architects (above), will provide 180 spots with eight separate classrooms spread over three levels.

A Development Application has been submitted to Ipswich City Council for the final piece in the development of a major new education precinct at the Providence township in the Ripley Valley.

Okeland Communities Project Manager Michael Khan said, “With more than 1,000 homes and families the Providence community is now approaching critical mass for a range of community services and infrastructure.”

“Providence is the heart and soul of the Ripley Valley, Queensland’s fastest growing corridor, and we look forward to delivering a town centre that provides our community with everything they need to live their very best life, he added.

The completion of the masterplan for the education precinct comes just weeks after the launch of a $3 million sport and recreation precinct with 4.5 hectares of playing fields, outdoor sporting equipment and shaded play areas for residents and sporting clubs.

 

Source: www.propertyobserver.com.au

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Brisbane

Cromwell Spends $185m on Golden Triangle Tower

ISPT has sold its recently renovated tower in Brisbane’s golden triangle for $184.7 million to Cromwell Property Group for its DPF fund.

The 24-storey office tower at 100 Creek Street, Brisbane has a net lettable area of 20,223 square metres.

It is the second purchase for the fund in Brisbane after it secured the former Flight Centre headquarters at 545 Queen Street for $117.5 million in May.

Meanwhile, Cromwell Funds Management Limited sold its nine-storey Icon office tower in Ipswich for $144.9 million a month ago.

The Creek Street building has a mix of tenants, a 6-star NABERS indoor rating, end-of-trip facilities and floor-to-ceiling glass panelling.

The sale follows another golden triangle transaction, in August, when Fortius Funds Management and PGIM bought a similar sized building at 307 Queen Street for $214 million.

The surge of transaction in the area comes as Brisbane occupancy drops to 51 per cent, according to the Property Council of Australia.

Cromwell

▲ The golden triangle is bounded by Edward, Queen and Eagle Streets and is a financial district in the Brisbane CBD.

Cromwell head of retail funds management Hamish Wehl said it was a landmark building and stellar addition to the fund.

“The asset has a sensational location, benefits from great amenity and has been recently substantially refurbished,” Wehl said.

“It’s earnings accretive to DPF and will support the fund’s long-standing track record of paying unitholders a regular reliable income.”

ISPT spent $10 million upgrading the 100 Creek Street building in 2018, giving it new bathrooms, a semi-open foyer as well as creating a French provincial style laneway market.

The direct property fund has an annualised distribution yield of 5.4 per cent with nine office assets in Queensland, NSW, Victoria and the ACT.

The acquisition is subject to Foreign Investment Review Board approval and is expected to settle towards the end of November.

 

Article Source:www.theurbandeveloper.com

Continue Reading

Commercial

Hope Island’s Peninsula Collection apartments show great appeal to interstate and international investors

Peninsula Collection

The Peninsula Collection has 63 apartments, starting from a low $565,000 for the three-bedroom apartments

The ASX-listed ASF Group have released the final opportunity to buy in their unrepeatable gated Hope Island community, The Peninsula.

Peninsula Collection is the final instalment of apartments in the master-planned development on Harbourview Drive, which is located in the highly sought-after Hope Island Resort.

ASF has already sold out Peninsula Homes, a collection of 17 townhouses, Peninsula Residences, comprising 40 apartments, and Peninsula Terraces, just 22 terraces, which sit along side the Peninsula Collection.

The Peninsula Collection has 63 apartments, starting from a low $565,000 for the three-bedroom apartments. Since the official launch of Peninsula Collection last month, more than 10 apartments have already been snapped up

They’re likely to be popular with investors, particularly internationally, with Hope Island Resort featuring Foreign Investment Review Board (FIRB) exemption. This gives investors a global re-sale market for future capital returns seldom found in other developments in Australia.

The project is also offering a three-year rental guarantee of five per cent per annum, along with the option for property management services.

Hope Island apartments have seen 3.8 per cent price growth per annum over the past 10 years, according to SQM Research. In the last 12 months, apartments have seen 16.5 per cent growth.

This can be attributed to a number of factors, not least of which is shortage of supply. According to property consultants Urbis in 2019, The North Shore precinct, which includes Hope Island, was the most undersupplied market on the Gold Coast for apartment buyers. A situation which hasn’t see much improvement until recently with five new apartment developments set for Hope Island.

Rental stock has also remained extremely tight on Hope Island.

The 2032 Brisbane Olympics announcement is also backing up this data, ensuring investment from both private and public sectors upwards of hundreds of millions of dollars in infrastructure and more in the near and long term.

Peninsula Collection

Peninsula Collection 52 Harbourview Drive, Hope Island QLD 4212 

Three-bedroom apartments in Peninsula start from $565,000, below the suburb median of $579,000, according to SQM.

Rents have also been on the rise with rental asking prices up 24.8 per cent in the past year and 4.4 per cent per annum for the past 10 years.

‘The Peninsula, as an exclusive gated community development on Hope Island Resort’s unique river canal, is located within one kilometre of three golf courses, across the road from the Azzura Greens Resort and Links Hope Island Golf Club.

It’s one of the closest new developments near the Hope Island Shopping Centre, reachable on buggy or foot.

 

Article Source: www.urban.com.au

Continue Reading

Brisbane

Cromwell Sells Ipswich Office Tower for Record $145m

Cromwell

Cromwell Funds Management Limited has sold the Icon building in Ipswich for $144.9 million, a record price paid for an office building in Queensland outside Brisbane.

Castlerock picked up the nine-storey building with 17,870sq m of commercial space after raising $90 million in seven weeks for its new The Auslink Property Trust No 2.

The A-grade tower at 117 Brisbane Street, in the Ipswich City Heart precinct, was built in 2013 and included 207 car parks, 120 bicycle stations and office winter gardens.

Cromwell made the decision to sell because of the $16.4-million premium to the previous book value of $128.5 million and that the trust had less than two years to maturity.

Cromwell head of retail funds management Hamish Wehl said unit-holders would receive a special distribution as a result of the transaction.

“It was a difficult decision to sell the property, however, with less than two years to go to maturity, we felt that money-in-the-hand was the right outcome for unit-holders,” Wehl said.

Castlerock director Adam Bronts said the capital raised showed the appeal of the new fund and the high level of demand for quality property assets.

“This capital raise was the largest in Castlerock’s 18-year history, so it was extremely gratifying to see such keen investment appetite for the fund,” Bronts said.

The Queensland government is Icon’s major tenant, accounting for more than 91 per cent of the net lettable area.

The sale is unconditional and is expected to settle on October 21, 2021. It was put in play through Colliers state chief executive Simon Beirne and Queensland director of investment services Sam Biggins.

“Castlerock’s acquisition is further evidence of syndicator capital moving up the price curve into larger office assets in key metropolitan markets in Queensland,” Biggins said.

“The Icon transaction represents the largest sale of an office building in Queensland outside Brisbane. Castlerock was attracted to the long-term growth prospects of the Ipswich region. which is Queensland’s fastest growing local government area.”

 

Article Source: www.theurbandeveloper.com

Continue Reading

Positive Cashflow Property

duplex designs, dual occupancy homes

Property Investment Advice

gold coast property management

Trending

website average bounce rate