Frasers Property invests further in SEQ
Source: Frasers Property - www.frasersproperty.com.au
12 February 2016
Frasers Property Australia has reaffirmed its commitment to South East Queensland with the acquisition of a new project conveniently located half way between Brisbane and the Gold Coast.
The 135 hectare site, located at Bahrs Scrub near Beenleigh, will provide affordable and much-needed housing in this strategically positioned Logan growth corridor.
The master-planned Bahrs Scrub site – which has not yet been named – provides for 1,350 detached housing lots which will become home to more than 3000 residents, with natural waterway corridors and an abundance of green space providing panoramic views of the region.
The 135 hectare site, with an end value of $270 million, is less than five minutes from Beenleigh and the M1 which connects to Brisbane and the Gold Coast. The Beenleigh train station conveniently runs express trains direct to the Brisbane CBD.
The site will boast a neighbourhood retail hub of approximately 6000-7000 sqm and a variety of recreational green spaces.
Anthony Boyd, Executive General Manager Residential, Frasers Property Australia said the acquisition of the Bahrs Scrub site is the perfect start to 2016.
“We are thrilled to secure the Bahrs Scrub project in the heart of the Logan growth corridor,” Mr Boyd said. Frasers Property already has a stake in the City of Logan, having launched ‘The Rise’, a 370 lot land estate within the Park Ridge masterplan area, in 2015.
Frasers Property acquired the Bahrs Scrub site from Stockland, with planning approval and an infrastructure agreement in place for the core land. Detached housing lots will range in size from 250 to in excess of 1,000+ sqm.
“Our decision to further invest in the Logan community aligns with Frasers Property’s broader strategy for growth and underlines our commitment to South East Queensland,” said Mr Boyd.
“A site of this scale in such a central location is a rarity. The site also has development approval in place, allowing for the project to be brought to market in Spring 2016”.
Logan City Mayor Pam Parker said the Bahrs Scrub project is part of a clear plan to create a vibrant, connected and sustainable future for the City of Logan and its residents.
“Frasers Property Australia’s decision to further invest in the City of Logan will encourage future development and improve the area's appeal to visitors, residents and the wider community,” Mayor Parker said.
“This development will offer a range of affordable living options and will build on existing amenity with more community facilities and recreational venues. It will also provide more strength to the City of Logan’s economy which is currently unmatched for growth opportunity in Australia.”
The Bahrs Scrub project is set to launch to the public in Spring 2016. Local residents can expect to see site works and construction of a sales centre begin shortly, with a Builder’s Display Village to follow in 2017.
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