Maidment Development Group has purchased a 16.4 hectare site in Beerwah for $4.25 million with development approval for 114 detached residential lots. The estate which is named Pineview Beerwah will be sold in four stages.
The Townsville-based privately owned residential developer is looking to expand into South East Queensland. They currently have an existing residential project Fairview Park Estate in Gympie.
Baydn Dodds, Senior Executive of Special Projects at Colliers International negotiated the off market transaction for the 94 Pine Camp Road site.
Mr Dodds said the developer was quick to prepare the project for market post settlement on 30th April considering it was already approved by the Council.
“After settlement Maidment quickly progressed with obtaining Operational Works approval and are currently marketing the project which they named Pineview Beerwah estate.
"The construction for stage one has commenced and the blocks in the first release are already selling.
“Maidment Development Group saw great potential in investing into the area due to the strong market for finished lots and house and land packages on the Sunshine Coast. This has in turn increased developers’ interest and demand for approved residential sites in the region.
“Developers can also see the potential impending land shortage on the Sunshine Coast, with a number of established projects nearing completion including: Stockland’s Brightwater at Mountain Creek, Australand’s Ivadale Lakes and AV Jennings Creekwood at Meridan Plains, QM Properties Forest Pines in Buderim and Parklakes 1 and Cutters Ridge in Bli Bli.”
According to Mr Dodds the expansion of the Beerwah Village Shopping Centre by addition of Target and IGA to the existing Woolworths and speciality shops is a good indication of investment into the region and provides developers with confidence that the area is set for growth.