This article is from the Australian Property Journal archive
QUEENSLAND fund manager CFMG Capital has launched a new capital raising for the expansion of a $55 million residential land community in Brisbane’s southern growth corridor.
The current capital offering, Glen Road II, will support the development of a fourth stage of the Riverleigh land project at Logan Reserve. CFMG will develop the site into 34 residential lots ranging in size from 400 sqm to 563 sqm.
The offering – the 20th via the company’s CFMG Land & Opportunity Fund – has set a target return of 9.45% (net of all fees) with a 20-month investment term. The targeted overall return over the term is 15.8%, and the minimum investment is $25,000.
Stage three of the Riverleigh project is due to be launched before Christmas to meet the demand for homesites in Logan. Stage four will be released next year ahead of completion in 2026.
The two-hectare site is in a strong residential development precinct with completed projects immediately adjacent on two boundaries. CFMG Capital has completed three nearby residential developments and over 700 residential lots in the Logan area since 2018.
CFMG Capital Group general manager Andrew Thomson said Riverleigh has already generated more than $28 million in sales over the first two stages, with first lots due to be completed in March next year.
On completion, Riverleigh will comprise 143 residential lots minutes from existing and planned infrastructure including an expanded Coles and newly established Woolworths at the Park Ridge Town Centre, in addition to established retail and educational infrastructure in nearby Waterford, Marsden and Loganlea.
According to the latest data from Oliver Hume data, the average price for a block of land in Logan increased 7.0% over the September quarter and 9.7% year-on-year to $350,000.
CFMG Capital a month ago launched a capital raising to fund development of a $26 million residential community on a newly-acquired site in southern Brisbane. The 3.37-hectare site on Farley Road in Rochedale was picked up for $11 million and will be developed into a 27-lot gated community that is expected to hit the market in early 2026, with prices starting from $900,000. CFMG has completed two nearby residential developments in Rochedale via the Land and Opportunity Fund.
