This article is from the Australian Property Journal archive
DEVELOPERS Keylin and Kinstone have joined forces to acquire a strategic development site in an emerging town centre precinct in the Gold Coast.
Located at 64 Foxwell Rd in Coomera’s town centre precinct and sat between both Dreamworld and Westfield Coomera shopping centre within one of Australia’s most active growth corridors.
This is the second joint purchase by the two Brisbane-based developers in the last 12 months, after their $650 million Serenity 4212 waterfront estate at Helensvale. With the project set to become the final master planned, waterfront developments in the Gold Coast’s North Shore.
The 47.7-hectare site will allow for 30-100 dwellings per hectare, leaving room for large areas of green space.
“This is one of the area’s most strategically important sites that will shape the future of the urban heart of Coomera, considered to be the final piece of the Coomera Town Centre puzzle,” said Louis Cheung, managing director at Keylin.
The site also sits between Oakley Creek on the south, the Gold Coast railway corridor on the east and will be close to the proposed state-controlled north-south corridor between Loganholme and Nerang, the Coomera Connector.
Plans are currently underway for various projects in the Coomera area, with a Costco outlet and the State Government also announcing plans got a new hospital in the area.
“We are delighted to have successfully secured what we believe is one of the key sites on the northern Gold Coast which will allow us to play a significant role in the creation of the next stage of the Coomera Town Centre precinct,” said Cheung.
The site was acquired through a expressions of interest campaign, by by Mark Witheriff and David Corke of CBRE and Brendan Hogan, James Holland and Jason Lynch of Colliers International.
“The property attracted an extraordinary level of interest with a very competitive process from some of Australia’s largest public and private development groups,” said Hogan.
“The population growth continues to drive the Gold Coast residential market as families look to migrate away from the high density living of capital cities into lifestyle areas such as the Gold Coast,” said Witheriff.
Keylin and Kinstone are now developing a preliminary master plan with combination of residential and commercial precincts.
“We are delighted to have successfully secured what we believe is one of the key sites on the northern Gold Coast which will allow us to play a significant role in the creation of the next stage of the Coomera Town Centre precinct,” said Cheung.
