Boldstone buys fifth Toowoomba site
Boldstone has snapped up another Toowoomba site with plans for a low density housing estate.
The 69 hectare parcel at Cotswold Hills (outlined, image, top), west of the CBD, set it back $38 million.
A c900-lot estate is planned.
The developer said 500 square metre blocks will sell from $400,000.
There will also be 600-800 sqm parcels targeting second home buyers and investors.
The deal comes five months since we reported the Brisbane developer led by James and Bianca Durack, also behind the Durack Civil business, outlaid $12.15m on a four hectare Middle Ridge block permit-ready for a 52 lot subdivision.
Biggest Toowoomba project planned: developer
Boldstone is also behind the area’s Walermare estate with 93 lots (continues below).
“This is the largest project we’ve taken on, and a deliberate step up, Ms Durack said.
“Cotswold Hills gives us the scale to deliver a genuine community in Toowoomba at a time when supply isn’t keeping pace with regional demand,” she added.
“We’ve chosen to commit to this region properly…five projects in the Toowoomba LGA isn’t opportunistic – it’s a long-term position, and a site of this scale anchors it,” according to the executive.
A natural creek line traversing the site should be retained and rehabilitated as a green spine with walking paths.
“A small neighbourhood-scale commercial component is also being considered, with potential uses including childcare, food and beverage, and convenience retail, subject to approvals,” Ms Durack said.
Last week we reported the pair paid $30m for adjoining Fortitude Valley offices to rebuild and part occupy.
Subscribe to our newsletter at the bottom of this page.
