Homecorp pays $30m for housing estate site
A housing estate in the planning system for eight years will finally take shape with the site selling to developer Homecorp for $30 million.
The 25.22 hectare parcel, 639 Redbank Plains Road, Redbank Plains, will make way for 193 homes across six stages.
Dwellings will be configured as townhouses, dual-occupancies and four-bedroom standalone homes.
The estate’s end-value has been estimated at $90m.
Construction is expected to start next year.
Redbank Plains is about 35 kilometres south-west of Brisbane.
It is 12km east of Ipswich (continues below).
Century Estate
Led by Ron Bakir, HomeCorp is already behind two communities in the suburb: Greenwood Village and Cedar West.
The latest project will be branded the Century Estate.
The site has an agricultural history – identified as Turf Farm House in an Ipswich heritage study undertaken in 1991.
It also formed part of a larger parcel in 2018 earmarked for a 345-lot subdivision downsized to 263 in 2020.
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