This article is from the Australian Property Journal archive
NO Limit Group is set to build a new $100 million estate between Brisbane and the Gold Coast targeted at new home buyers.
Alberi Park Estate is located at Holmview in the high growth Beenleigh precinct and will ultimately feature more than 300 lots. Alberi Park will be established on Teys Road, on a 31 hectares site amalgamated by No Limit last year at a price of $12.7 million.
No Limit, headed by Gold Coast businessman John Marshall launched the first stage of the project, which comprises 30 level lots and ranging in size from 425 to 615 sqm.
The lots are priced from $174,000 – offering some of the best value land in the Brisbane-Gold Coast corridor.
Oliver Hume’s Queensland general manager Adam Barclay said the high growth area was crying out for new housing product because it is one of the most sought after destinations for new home buyers in Southeast Queensland.
“It’s a high growth corridor but there is not a lot of flat land to build on – and there aren’t any significant amounts of flat land coming on line in the foreseeable future,” he added.
Research undertaken by Oliver Hume highlights critical land shortages in the area and limited availability of stock to meet the region’s growth requirements.
Research suggests that some 16,000 homes will be required in the area to meet the population expectations over the next 20 years.
Prices in surrounding areas including Eden’s Landing had experienced more than 300% price growth over recent years but shortage of product had left Holmview’s prices languishing.
“The reality is that there is plenty of room for price growth in Holmview when new stock becomes available,” he added.
Australian Property Journal
