Queensland’s waterfront communities in North Brisbane’s will see a residential spike as
Stockland asserts a $67 million land acquisition.
In a bid to urbanise Queensland’s bayside areas with village centres and parks, Australia’s largest property group Stockland has come up with the
Isles of Newport project, located in Scarborough 38 kilometres north of the Brisbane CBD.
The waterfront strategy is predicated to have a total value of $590 million, compromising 1,500 news homes with a proposed 28 hectares.
Stockland’s Managing Director and CEO, Mark Steinert said the land acquisition strategy would acquire sites in key growth corridors across the country, giving a strong vote of confidence in the economic prosperity and future urban growth of South East Queensland.
“We have some $3.7 billion invested in active projects in Queensland, and a further $3 billion of investment planned for future residential, retail and retirement living projects across the state”, Mr Steinert said.
The waterfront development plans to include a non-tidal lake with a navigable loch providing high mast boast access to Moreton Bay, a village centre, walking and cycling paths and a number of foreshore parks.
Stockland General Manager Residential, Queensland, Kingsley Andrew, said the land acquisition plan would be Stockland’s largest project in the Brisbane area in five years, with the Isles of Newport following from Stockland’s earlier success in Northlakes.
“This area of the Redcliffe Peninsula will perform strongly because it’s ideally located in one of Queensland’s fastest growing corridors,” Mr Andrew said.
The isles of Newport project is said to provide future residents with five, well established schools, three childcare providers, the Redcliffe Hospital and the many foreshore parks and beaches of Moreton Bay within a five kilometre radius of their new homes.
Stockland’s continued development of the new lakefront and bayside community will commence early in 2016, with first settlements expected in FY17.
SEE ALSO: Residential Property Growth Strong: Stockland