Developer spends $318.5m for housing estate site
Singapore listed Ho Bee Land has picked up a master-planned housing estate site in Brisbane’s outer north.
The 181.36 hectare Elimbah site cost $318.5 million.
Melbourne based Goldfields was the seller, offering it for public sale in September.
Cushman & Wakefield’s Morgan Ruig with Ray White’s Tony Williams were the agents.
HB Land comes to Elimbah
The Elimbah block is master-planned for 1400 residential lots – 288 which are permit ready.
There will also be a 26.3ha general industry zone and 25ha mixed-industry and use zone, part of which (4ha) is approved for a service centre (continues below).
As part of the deal, Goldfields will by early next year deliver external trunk services, including water and sewer connections.
The sale price values the industrial land at c$300 per square metre and the housing blocks at over $140,000.
Elimbah is about 54 kilometres from town.
Also this week, it is speculated Stockland is buying an outer north Melbourne site able to accommodate nearly 600 dwellings, for c$120m.
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