Bob Ell, Stockland trade $620m housing estate site
Stockland is outlaying a speculated $620 million for a major housing estate site at Kings Forest, near Tweed Heads.
Billionaire Bob Ell’s Leda Holdings is the seller.
The executive bought the 869 hectare block in 2003 for a speculated $14 million.
A c4500-lot subdivision for 161ha fronting George Alexader Way and Cunningham Drive was recently approved.
The first stage of the community, branded the Kings Forest Estate, with 38 lots, was put to the market in 2023 and sold out in 12 hours.
With 120 more parcels believed to have since sold, and construction of some homes underway, road infrastructure and a park (pictured, top) have also been completed.
Kings Forest is 29 kilometres south of Tweed Heads and twice that distance north of Byron Bay.
The nearest state capital is Brisbane, 130 kilometres away.
Stockland boosts development pipeline
Stockland is expected to take over the marketing and development of the estate near Kingscliff, possibly adding aged care or land lease community components.
Upon completion, the estate is expected to house some 10,000 people.
The deal comes a week since we reported the developer and John Boyd Properties would replace the 18.3ha ex-Kogarah Golf Course at Arncliffe, near Sydney Airport, with a c$3.5 billion industrial estate containing c350,000 square metres.
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