Home and Land
Thursday 27 April 2006
$20-Million housing estate planned for Morayfield
Progressive residential housing estate developer Devine has
turned its attention to the northern fringe of Brisbane, purchasing
a major site at Morayfield on which it plans to build a $20-Million
residential estate.
The burgeoning company has paid $3.52-Million to Noble Mansions
Pty Ltd for a 7-ha site at 184 Buchanan Road, which has good access
to the Bruce Highway.
The land carries DA approval for 64 lots.
"The lots at Morayfield are generous in size, averaging over 600
square metres, and the estate will feature a 1.4-ha park," said
Devine's National Acquisition Manager, Luke Hartman.
Devine's home and land
packages at Morayfield are expected to range from $290,000 to
$350,000, giving the estate an end value of more than
$20-Million.
Mr Hartman expects the estate to be sold in two stages, with
marketing to begin around June.
"The estate will be in keeping with the company's underlying
principle of providing good quality, affordable housing that is
ideal for first and second home buyers," said Paul Nash, National
Manager of Housing-and-Land at Devine.
Last year nearly 4,400 new residents moved into the
Morayfield-Burpengary area, which represents 52% market share of
the northern region of Brisbane (defined as Caloolture, Pine Rivers
and Redcliffe local government areas).
"This is a real growth area, with terrific amenities already
established," said Mr Nash. "Home buyers purchasing within this
estate are not only making a wise lifestyle choice but a prudent
investment."
Devine is continuing to acquire quality residential land, adding
to its development pipeline and guaranteeing a diversity of
on-going work. Last week it acquired a 12-hectare site on the
corner of Penrose Circuit and Walden Street at Redbank Plains, 26
kilometres south-west of the Brisbane GPO. The prime property has
DA approval for 137 lots, giving the estate an end value of around
$48-Million.
The progressive company has grown into a major developer of
fully integrated lifestyle housing estates in three States. This is
evident by the company's national development portfolio now
approaching a completed value of $2-Billion.
Released by: Devine, 3 Westmoreland Blvd, Springwood, Queensland
4127
Contacts: Paul Nash, National GM Housing & Land, on (07) 3380
2500, (0439) 730 424
Luke Hartman, National Acquisitions Manager, on (07) 3380 2488,
0437 633 775
Prepared by: Barry Hyland, PR Plus, Level 1, 272 Pacific
Highway, Crows Nest 2065;
Ph: (02) 9439 9191, (0412) 354 992; Email: pluspr@ozemail.com.au