Monday 29 January 2007

Devine has launched its fourth major housing community at Coomera, the fastest growing suburb on the Gold Coast.

'Riverwood', off Pamphlet Lane, has a total of 101 lots which will help meet the area's insatiable accommodation demand.

Stage 1 has 43 lots, ranging in size from 308 to 562 square metres. Stage 2 comprises the remaining 53 lots, which will be released in early 2007.

The 6.32ha 'Riverwood' is just 3km from the new Coomera Railway Station and the Gold Coast Marina, and close to three other Devine estates, 'Coomera Sanctuary' (100 lots), 'Edgewater' (134 lots) and 'SeaGreen' (149 lots).

The first two estates have sold out and 'SeaGreen' is almost completely sold, so Devine was keen to replenish its land holdings in this in-demand area.

Devine is particularly bullish about Coomera, which is strategically located 50km south-east of Brisbane and 20km north of Surfers Paradise. Affectionately nicknamed 'Boomera' by real estate gurus, its population has increased by 13.8% per annum over the past five years to more than 14,000 residents.

'Riverwood' has a good mixture of allotments suitable for a variety of home styles. The level blocks range from $169,900 to $189,900. Devine is also offering home-and-land packages from $329,900, while there are a few packages remaining at 'SeaGreen' from only $299,900.

When the estate is completed, 'Riverwood' will have an end value of around $16-Million.

"Our Coomera communities are selling more quickly than any of our estates in other parts of Brisbane," said Richard Sterry, Devine's Sales Manager for house-and-land in South East Queensland. "You can feel a vibrancy in the air which comes from expectation as people realise Coomera is a boom town."

Up until a few years ago Coomera was a semi-rural area best known for its popular Dreamworld Theme Park. Today it is a residential and business centre, with the Coomera River providing a host of recreational activities.

Its 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 M1 Freeway to Brisbane (40 minutes) and to Surfers Paradise (20 minutes).

The Queensland Government is playing its part in the area's rise to prominence, investing $2.236-Billion across 13 projects.

In addition there will be a multi-billion dollar development of the Coomera Town Centre. Coomera will serve as a regional activity centre for the Gold Coast corridor, with an expected population of around 100,000 by 2025. Its planned city centre will cover 380 hectares and have tree-lined boulevards incorporating commercial, retail, entertainment, medical and sporting facilities as well as a community centre and public library.
Devine's Coomera sales and information centre on Foxwell Road, East Coomera, is open daily from 10am to 5pm. More information is available on 13 24 66, or www.devine.com.au.

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Released by: Devine, 3 Westmoreland Blvd, Springwood, Queensland 4127
Contact: Richard Sterry, SE Qld Sales Manager, on (07) 3380 2576, 0400 654 584
Paul Nash, National GM Housing & Land, on (0439) 730 424
Prepared by: Barry Hyland of PR Plus, Level 1, 272 Pacific Hwy, Crows Nest 2065 on
Ph: (02) 9439 9191, Fax: (02) 9439 9190. pluspr@ozemail.com.au