CFMG buys Rochedale town centre site
CFMG Capital has paid $30 million for a mixed-use development site at Rochedale, 11 kilometres south east of Brisbane’s CBD.
The 4.05 hectare lot, 465 Rochedale Road, zoned Emerging Community, is set for a 51-lot subdivision.
A town centre with c4500 square metres is also planned, expected to be retained by the builder.
“It’s an exceptional site in a desirable supply-constrained location,” CFMG director Andrew Thomson, said.
“We know this market well and see ongoing opportunities [and] maintain a strong appetite for further acquisition” he added.
Growth precinct
CFMG is led by founder and manager Scott Watson.
It is chaired by Ross Stiles, Cromwell founding partner and ex-director (continues below).
The Rochedale Rd site was marketed for its potential to yield up to 100 housing lots.
Dwellings on adjoining subdivisions sell for over $2.5m, according to Ray White Commercial agents Matthew Fritzsche and Lachlan O’Keefe, who added local population growth has increased 250 per cent since 2011.
CFMG is behind five other Rochedale precinct projects including Farley Road and Mayfair Lane.
In September it banked $38m selling Urbex a 16ha chunk of the Birchwood estate at Park Ridge – about 16 kilometres south of Rochedale.
Twelve months ago it outlaid $50m for a site at Bellmere, north of Brisbane which last month, it added to, with the $19m purchase of 23.5ha at 510 Bellmere Rd. Those sites, and two abutting it controlled by CFMG, will make way for the Ambury estate.
Subscribe to our newsletter at the bottom of this page.
