This article is from the Australian Property Journal archive
FRASERS Property Australia will take up controversial plans for a 700-home master planned community on the Keperra Quarry, after settling its $31 million acquisition of the 48.7 hectare site in Brisbane’s north west.
The $234 million community will be built on one of the most elevated areas of land in Brisbane and comprise approximately 60% open green space.
“The design for the masterplanned community is still being refined however most of the residential dwellings will be built between 100 and 145 metres above sea level, creating some spectacular views to the Glasshouse Mountains,” Scott Ullman, general manager – residential Queensland, Frasers Property Australia said.
“The elevation is a real point of difference for this site, enabling us to apply our design and development expertise to maximise the natural advantages of being so high up.”
Also within the existing approval is a 7,000 sqm neighbourhood retail and childcare centre.
Brookfield Residential Properties put the quarry up for sale last year. Local residential have been vocal about their concerns over the impact of development on the area.
Ullman said the new community will offer a combination of detached, low density and medium density terrace homes.
“Our focus now is to refine the masterplan design for the new community, working toward an expected launch in 2021. We are excited by the opportunity to transform this site into a truly unique residential community that will be a positive outcome for Keperra and Brisbane.”
Brendan Hogan and Adam Rubie of Colliers marketed the site as part of an expressions of interest campaign that generated over 140 enquiries.
Hogan said this is the largest infill site within the Brisbane fringe precinct that has been transacted in the last five years.
“The scarcity of available zoned sites of this scale within 10 kilometre radius of the CBD led to strong interest and seven offers from major national and international developers.”
Frasers Property has delivered Yungaba House and Hamilton Reach on the Brisbane River, Brookhaven Living at Bahrs Scrub and Cova at Hope Island.
