Saturday 16 September 2006
Coomera, between Brisbane and the Gold Coast, is one of
Australia's fastest growing locations, with more than $2.4-Billion
of development underway or planned.
Real estate pundits are calling it 'Boomera', and predict the
satellite suburb will quickly become a stand-alone city the scale
of Beenleigh and Robina.
Even the proactive developer Devine has been kept on the hop by
the strength of demand for housing, and is fast-tracking the
release of a further stage of its 'Nautical Edge' residential
community.
Over the past 15 months Devine has sold more than 90% of its
100-lot 'Coomera Sanctuary' and its 134-dwelling 'EdgeWater'
estate.
Devine is set to launch 'SeaGreen', a medium-density showpiece
comprising a cosmopolitan mix of residential accommodation
harmonising with the existing natural environment. The 10-hectare
estate will provide 149 dwellings in an unprecedented choice of
accommodation styles to help meet some of the demands created by
Coomera's insatiable appetite for housing.
Devine is well underway on the estate's infrastructure, services
and landscaping, with this civil works program scheduled for
completion by February.
The first residential marketing phase will begin later this
month with the release of vacant land from $169,900, apartments
from $219,900, terrace homes from $299,900, and home-and-land
packages from $289,900.
The city-style apartments and terrace homes offer a new
lifestyle option for Coomera which, up until a few years ago, was a
semi-rural community best known for its popular Dreamworld Theme
Park.
"We are selling home sites at Coomera twice as quickly as we had
anticipated," said Glenn Moat, Queensland Sales Manager for Devine.
"You can feel a vibrancy in the air which comes from expectation as
people realise Coomera is a boom town."
Coomera's growth is being fuelled by former residents of
Brisbane and the Gold Coast who are exploring lifestyle options
while remaining close to major metropolitan areas for employment
purposes. Workers can commute comfortably via the F1 Freeway to
Brisbane (40 minutes) and to Surfers Paradise (20 minutes).
"Home prices in Surfers Paradise and Brisbane can
be many times more than they are at Coomera, but within a decade
when the Town Centre is finished I can see property here being
almost as valuable," said Mr Moat.
According to the Australian Bureau of Statistics, the population
of Coomera grew in 2005 by 24% to 18,660 residents, and is
predicted to reach 80,000 by 2025.
Mr Moat said the evolution of a suburb into a real estate hot spot
is generally triggered by major infrastructure development such as
freeways, rail/bus links, education establishments, hospitals,
shopping centres, entertainment precincts and/or the rezoning of an
area.
Coomera already has many of these facilities in place, and its
emergence as a major hub is being propelled by the proposed Coomera
Town Centre, which will be as large as the Gold Coast suburb of
Southport.
The centre will have more than 100,000 square metres of retail
and office space surrounding Coomera Railway Station. Ensuring its
vibrancy will be a major shopping complex proposed by Macquarie
Leisure Trust which will include several supermarkets, cinemas, a
Ten Pin bowling alley, restaurants, nightclubs, and a childcare
facility.
Also planned are a number of government and service buildings, a
university, TAFE, sporting facilities, and a medical precinct.
'SeaGreen' is one of several large tracts of land at Coomera
that Devine has secured for development.
"We have 550-lots currently under development control in
Coomera, and have options to purchase more land," said Devine's
Queensland State
Manager, Scott McIntosh.
"There is a pent-up demand for accommodation
here and, in keeping with the Devine philosophy, we will be
offering a mix of affordable options that will particularly suit
first and second home buyers, as well as investors looking to take
advantage of the region's healthy rental returns and capital
growth."
'SeaGreen', on Finnegan Way at East Coomera, is surrounded by
the brilliant colour of the government-protected native bushland,
natural water features and wildlife.
"Lots range from 400sqm. to an expansive 760sqm. - spacious
enough to suit a myriad of home designs," said Mr McIntosh. "The
geometric layout of 'SeaGreen' will help unify and give definition
to the open spaces and create a distinct identity for the
residents."
Paul Nash, Devine's National General Manager of Housing and
Land, said the publicly-listed company is continuing to expand its
portfolio of projects, underpinning its emergence as a major
national developer of fully-integrated lifestyle estates.
"This year alone we've secured sites in Queensland, Victoria and
South Australia that will generate work in a diversity of
Australian capital cities worth more than $1-Billion," said Mr
Nash. "The influx of activity means Devine's national development
portfolio is now $2-billion in finished value, and we are
continuing to look for more opportunities."
Devine's Coomera sales and information centre on Foxwell Road,
East Coomera, is open from 10am daily. More information is
available on 13 24 66, or www.devine.com.au.
Released by: Devine, 3 Westmoreland Blvd, Springwood, Queensland
4127
Contacts: Paul Nash, National GM Housing & Land, on (07) 3380
2546, (0439) 730 424
Glenn Moat, Queensland Sales Manager, on (07) 3380 2584
Prepared by: Barry Hyland, PR Plus, Level 1, 272 Pacific
Highway, Crows Nest 2065
Ph: (02) 9439 9191, (0412) 354 992. Email: barry@prplus.com.au