Macquarie arm buys growth corridor LLC site
Peet Limited has sold a piece of a 126 hectare Flagstone housing estate to Macquarie Asset Management backed Millbray, for a land lease community.
The 12.04ha College Drive block (pictured, top) traded for $17 million ex-GST.
About 293 dwellings are planned along with c5000 square metres of amenity including a 25 metre lap pool, bowling green, cinema, gym and pickleball courts
It will be Millbray’s maiden Queensland LLC project.
Colliers’ Chris O’Driscoll, Brendan Hogan and Tony Linnane were the agents.
The Peet estate, Flagstone City, is earmarked for 12,000 dwellings – more than 1500 which have already been developed – 44,000 sqm of retail and 58,000 sqm of offices.
After initially holding a half stake in the project, with an end value expected to circle $3.4 billion, Peet seized full control in early 2022.
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