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BMD Group’s Urbex has started making plans for an 800-lot subdivision at Townsville in Queensland.
Urbex bought the 80.27ha site at Rasmussen in Townsville at 170 South Beck Drive and 45 Bluewattle Boulevard in March for $5 million.
Urbex will soon submit plans for subdivision approval to the Townsville City Council.
Urbex project director David Argent said it was a key location.
“We expect development to occur in the next 12 months on the site,” Argent said.
Argent said the estimated value of the developed land would be about $130 million with Urbex planning to develop all necessary trunk infrastructure and connections.
Infrastructure has been a key concern for councils trying to free up land for much needed residential development as people continue to migrate to Queensland.
Developers usually are reluctant to take on the additional costs of developing infrastructure on undeveloped land with councils also unable to afford the high cost.
The Queensland government announced this week that it would spend $200 million in south-east Queensland to get infrastructure in place to speed up residential development with developers expected to contribute 20 per cent of the costs.
Urbex is well known in Queensland and has residential projects in Western Australia, the Northern Territory and Victoria.
Two of their latest projects have been The Reserve with 221 lots across 25.41ha and Kalynda Chase with 1250 lots on completion across 161ha, both at Bohle Plains in North Queensland.
Their other projects in North Queensland include Enclave at Earlville with 58 lots across 5.4ha, and Dunes Harbour Beach at Mackay Harbour with 485 lots across 57.2ha.
