Stockland adds to development pipeline with Springview Estate acquisition
02 November 2017
Stockland: Australia’s largest
residential
developer, Stockland, today announced the partial acquisition of the
Springview Estate, comprising almost 30 hectares of approved
residential-zoned land in the Greater Springfield region, 10 hectares of
conservation land and existing
approval for more than 400 detached new
homes.
The acquisition further strengthens Stockland’s development ready
pipeline in
South East Queensland, with the agreement also including
pre-emptive buying rights for Stockland over the balance of the
Springview Estate which comprises an additional 136 hectares.
The region benefits from strong market fundamentals, and the acquisition
aligns with Stockland’s strategy to grow its development pipeline in
areas where it has an established presence, with the successful
Stockland Augustine Heights residential community located just five
kilometres away.
Stockland’s CEO of Residential Communities, Andrew Whitson said:
“Located in the heart of Queensland’s fastest growing region, the
acquisition of this prime residential site in Springfield will allow us
to continue delivering highly liveable communities in the fast growing
Greater Springfield region.
“Stockland has a long and proud history delivering sustainable
communities, affordable homes, shopping centres, and retirement living
communities in
Queensland, with more than $3 billion invested in the
state and a further $3 billion investment planned over the next 10
years, in projects from the Gold Coast to Townsville.
“In South East Queensland alone, we’re building and operating five
shopping centres, seven retirement living villages, 28,000 homes and
five logistics and business parks.
“The right to purchase the remainder of the Springview Estate gives us
the opportunity to progressively develop the broader site and maximise
our integrated development capability to deliver a truly unique and
liveable masterplanned community. We look forward to working with the
Ipswich City Council and local community on next steps,” Mr Whitson
said.
Located just 5 minutes’ drive from the Springfield Town Centre, 2
minutes from two major train stations and approximately half an hour
from
Brisbane’s CBD in the fast growing suburb of Springfield, the site
is very well serviced by surrounding infrastructure; including 11
schools, four shopping centres, and Health City, the 52 hectare medial
and wellness precinct that includes the Mater private hospital all
within a five kilometre radius.
The Springview site is also conveniently linked to Brisbane's
International Airport by the Gateway motorway, and the Gold Coast via
the M1.
Stockland purchased the Springview site from a private vendor for $21
million on staged payments, with the proposed development planned to
contribute first sales and settlements to Stockland’s Residential
business from FY19. The site was purchased with the benefit of a
development approval, issued by Ipswich City Council, that considers
environmental, stormwater and engineering aspects associated with its
intended residential use.
--ENDS--
Source: Stockland - www.stockland.com.au
Contact: N/A
External Links: N/A
Recent news by: Stocklands