Villawood Properties has announced a partnership with industry superannuation fund Hostplus to develop part of its flagship Helensvale project in south-east Queensland.
A Joint Venture project with an end value of approximately $400 million, the agreement takes in more than 600 lots of the Helensvale project, which upon completion will feature at least 2000 dwellings.
“The signs are highly positive for new residential development in southeast Queensland and we’re particularly excited about our Helensvale project. It was an outstanding acquisition when purchased last year and since then has become even more so, offering as it does, the very best of this highly desirable region,” said Villawood Properties co-Executive Director Tony Johnson.
“This partnership will position us even more strongly to deliver in what are already strong market conditions and with the benefit of such a favorable location.”
Villawood Properties co-Executive Director Rory Costelloe said the partnership built further on the company’s reputation.
“Villawood Properties has a reputation for creativity and innovation in the way it delivers vibrant, sustainable communities. This vision and creativity in our approach includes the way we enter into commercial arrangements to ensure the best commercial and community outcomes,” he said.
Helensvale is an established suburb 15kms north of the Surfers Paradise CBD and approximately 63 kilometres south of the Brisbane CBD.
It is the last major residential development site of this scale left in Helensvale and is situated on the Eastern side of Country Club Drive in Helensvale.
Adjacent to Stage Two of the recently announced Gold Coast Light Rail extension, it is also served by bus, rail, the Gold Coast Highway as well as the Pacific Highway.
Westfield’s Helensvale Shopping Centre is 200 metres west of the site.
It is served by a range of schools, shops and employment.
Of the entire site area 30 per cent will be dedicated to a combination of recreational open space and conservation land.