This article is from the Australian Property Journal archive
STOCKLAND has added a 77-hectare development site in South Ripley to its residential pipeline, with the group looking to expand its presence in the housing stock hungry Ipswich and South East Queensland regions.
Zoned for residential use, 944-1024 Ripley Road sits in the Ripley Valley Priority Development Area, within close proximity to Stockland’s successful Providence masterplanned community.
“We are excited about increasing our residential footprint with zoned land and the opportunity to build on the success of our Providence community, which has a very strong brand in the South East Queensland corridor,” said Andrew Whitson, CEO of communities at Stockland.
“The acquisition follows more recent consolidations at Providence and aligns with our strategy to restock our masterplanned community pipeline with market-ready projects on capital efficient terms, in well-connected corridors close to transport, schools, jobs and infrastructure.”
With the new project set to deliver around 1,100 diverse homes to the elevated site, the community will also be home to a new state primary school and other community facilities.
“South East Queensland remains significantly under supplied, and we expect the new community will be highly sought after by homebuyers who value quality masterplanned communities in attractive settings with community facilities and infrastructure on their doorstep,” added Whitson.
Stockland now has nearly $3.6 billion invested across the Sunshine State, much of which is placed in masterplanned communities, including the award-winning Aura on the Sunshine Coast, the largest currently in development in the country.
“Future residents in South Ripley will benefit from a wide range of current and planned features at Stockland Providence, including the Providence Town Centre, the highly acclaimed Splash & Play facilities, District sporting and recreational grounds, schools and childcare, and a Satellite hospital,” said David Laner, general manager of Queensland communities at Stockland.
Stockland will progress on planning for the development, with a target project start date following settlement in 2024, subject to approvals.
